Prosperity Weaving Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 10 Pakistani paisa per share, a decline of 96.3% from 2.72 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 1.8 million rupees, a decrease of 96.4% from 50.3 million rupees in the prior-year period.
The normalized profit margin declined to 0.1% from 3.2% in the year-earlier period.
Total revenue rose 7.1% year over year to 1.70 billion rupees from 1.58 billion rupees, and total operating expenses increased 12.3% year over year to 1.66 billion rupees from 1.48 billion rupees.
Reported net income fell 96.0% year over year to 2.7 million rupees, or 15 paisa per share, from 66.9 million rupees, or 3.62 rupees per share.
As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.
