Bhanero Textile Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 11.47 Pakistani rupees per share, a decline of 5.7% from 12.16 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 34.4 million rupees, a decrease of 5.7% from 36.5 million rupees in the year-earlier period.
The normalized profit margin rose to 2.2% from 2.1% in the year-earlier period.
Total revenue fell 5.8% on an annual basis to 1.60 billion rupees from 1.70 billion rupees, and total operating expenses decreased 5.2% from the prior-year period to 1.53 billion rupees from 1.61 billion rupees.
Reported net income decreased 5.5% year over year to 39.1 million rupees, or 13.04 rupees per share, from 41.4 million rupees, or 13.80 rupees per share.
As of Nov. 4, US$1 was equivalent to 105.42 Pakistani rupees.