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Tri-Star Polyester fiscal Q1 loss narrows YOY

Tri-Star Polyester Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to a loss of 11 Pakistani paisa per share, compared with a loss of 13 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.6 million rupees, compared with a loss of 3.0 million rupees in the year-earlier period.

Reported net income came to a loss of 4.2 million rupees, or a loss of 17 paisa per share, compared to a loss of 4.7 million rupees, or a loss of 20 paisa per share, in the year-earlier period.

As of Nov. 2, US$1 was equivalent to 105.42 Pakistani rupees.