Extracted Oil & Derivatives Co. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 2.9 million pounds, compared with income of 950,630 pounds in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 3.0% from 1.0% in the year-earlier period.
Total revenue came to 96.2 million pounds, compared with 95.7 million pounds in the year-earlier period, and total operating expenses rose 7.2% from the prior-year period to 101.2 million pounds from 94.3 million pounds.
Reported net income came to a loss of 3.6 million pounds, or a loss of 2 piastres per share, compared to income of 1.2 million pounds, or 1 piastres per share, in the prior-year period.
As of May 8, US$1 was equivalent to 7.63 Egyptian pounds.
