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Exide Pakistan fiscal Q3 profit falls YOY

Exide Pakistan Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 4.28 Pakistani rupees per share, a decline of 45.6% from 7.87 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 33.3 million rupees, a decline of 45.5% from 61.2 million rupees in the prior-year period.

The normalized profit margin dropped to 1.4% from 2.2% in the year-earlier period.

Total revenue decreased 15.8% year over year to 2.35 billion rupees from 2.79 billion rupees, and total operating expenses declined 16.9% year over year to 2.22 billion rupees from 2.67 billion rupees.

Reported net income decreased 50.4% from the prior-year period to 30.3 million rupees, or 3.90 rupees per share, from 61.1 million rupees, or 7.87 rupees per share.

As of Jan. 30, US$1 was equivalent to 101.08 Pakistani rupees.