Premium Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 5.39 Pakistani rupees per share, compared with a loss of 1.23 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 33.2 million rupees, compared with a loss of 7.6 million rupees in the year-earlier period.
The normalized profit margin climbed to 2.5% from negative 0.4% in the year-earlier period.
Total revenue declined 33.4% year over year to 1.35 billion rupees from 2.02 billion rupees, and total operating expenses fell 35.4% year over year to 1.24 billion rupees from 1.92 billion rupees.
Reported net income totaled 39.5 million rupees, or 6.42 rupees per share, compared to a loss of 32.1 million rupees, or a loss of 5.20 rupees per share, in the year-earlier period.
As of April 29, US$1 was equivalent to 101.72 Pakistani rupees.
