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Shield fiscal Q1 profit climbs YOY

Shield Corp. Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 1.93 Pakistani rupees per share, compared with 1.92 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 7.5 million rupees, compared with 7.5 million rupees in the year-earlier period.

The normalized profit margin rose to 2.4% from 2.4% in the year-earlier period.

Total revenue totaled 310.1 million rupees, compared with 312.4 million rupees in the prior-year period, and total operating expenses came to 293.8 million rupees, compared with 294.7 million rupees in the prior-year period.

Reported net income grew 44.9% from the prior-year period to 10.7 million rupees, or 2.75 rupees per share, from 7.4 million rupees, or 1.90 rupees per share.

As of Oct. 29, US$1 was equivalent to 103.05 Pakistani rupees.