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Kohinoor Mills fiscal Q2 profit climbs 25.2% YOY

Kohinoor Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 1.35 Pakistani rupees per share, an increase of 25.1% from 1.08 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 68.4 million rupees, a gain of 25.2% from 54.6 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.2% from 2.7% in the year-earlier period.

Total revenue increased 5.0% on an annual basis to 2.13 billion rupees from 2.03 billion rupees, and total operating expenses grew 5.2% from the prior-year period to 1.94 billion rupees from 1.85 billion rupees.

Reported net income rose 75.2% from the prior-year period to 92.5 million rupees, or 1.82 rupees per share, from 52.8 million rupees, or 1.04 rupees per share.

As of Feb. 26, US$1 was equivalent to 104.59 Pakistani rupees.