Sunrays Textile Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 6.13 Pakistani rupees per share, a decline of 22.5% from 7.91 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 42.3 million rupees, a decline of 22.4% from 54.6 million rupees in the prior-year period.
The normalized profit margin dropped to 3.8% from 5.2% in the year-earlier period.
Total revenue grew year over year to 1.10 billion rupees from 1.05 billion rupees, and total operating expenses grew 7.6% year over year to 1.03 billion rupees from 956.2 million rupees.
Reported net income fell 34.2% from the prior-year period to 53.6 million rupees, or 7.76 rupees per share, from 81.4 million rupees, or 11.80 rupees per share.
As of March 2, US$1 was equivalent to 101.88 Pakistani rupees.
