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Treet fiscal Q2 loss widens YOY

Treet Corp. Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of 10 Pakistani paisa per share, compared with a loss of 5 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 14.9 million rupees, compared with a loss of 3.1 million rupees in the prior-year period.

The normalized profit margin fell to negative 0.8% from negative 0.2% in the year-earlier period.

Total revenue climbed year over year to 1.77 billion rupees from 1.71 billion rupees, and total operating expenses decreased year over year to 1.65 billion rupees from 1.68 billion rupees.

Reported net income totaled a loss of 52.1 million rupees, or a loss of 35 paisa per share, compared to a loss of 3.4 million rupees, or a loss of 6 paisa per share, in the prior-year period.

As of Feb. 26, US$1 was equivalent to 104.59 Pakistani rupees.