Nishat Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 3.02 Pakistani rupees per share, an increase of 17.4% from 2.57 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.06 billion rupees, an increase of 17.4% from 904.3 million rupees in the prior-year period.
The normalized profit margin climbed to 5.7% from 4.1% in the year-earlier period.
Total revenue fell 15.2% year over year to 18.52 billion rupees from 21.84 billion rupees, and total operating expenses fell 15.0% on an annual basis to 16.52 billion rupees from 19.44 billion rupees.
Reported net income rose 15.9% on an annual basis to 1.80 billion rupees, or 5.13 rupees per share, from 1.56 billion rupees, or 4.42 rupees per share.
As of April 27, US$1 was equivalent to 101.84 Pakistani rupees.
