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Banking Essentials Newsletter: 17th April Edition

Treet fiscal Q1 profit climbs 29.5% YOY

Treet Corp. Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 came to 74 Pakistani paisa per share, a decrease of 50.5% from 1.50 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 110.3 million rupees, an increase of 29.5% from 85.2 million rupees in the year-earlier period.

The normalized profit margin increased to 5.7% from 4.8% in the year-earlier period.

Total revenue increased 8.9% on an annual basis to 1.94 billion rupees from 1.78 billion rupees, and total operating expenses increased 15.2% year over year to 1.85 billion rupees from 1.61 billion rupees.

Reported net income rose 27.4% from the prior-year period to 159.5 million rupees, or 1.07 rupees per share, from 125.3 million rupees, or 2.20 rupees per share.

As of Oct. 30, US$1 was equivalent to 105.51 Pakistani rupees.