Blessed Textiles Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 2.76 Pakistani rupees per share, a decrease of 9.9% from 3.06 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 17.8 million rupees, a decrease of 9.9% from 19.7 million rupees in the year-earlier period.

The normalized profit margin rose to 1.0% from 1.0% in the year-earlier period.

Total revenue decreased 10.7% on an annual basis to 1.76 billion rupees from 1.97 billion rupees, and total operating expenses fell 8.9% year over year to 1.69 billion rupees from 1.86 billion rupees.

Reported net income fell 12.8% on an annual basis to 10.6 million rupees, or 1.64 rupees per share, from 12.1 million rupees, or 1.88 rupees per share.

As of March 1, US$1 was equivalent to 104.72 Pakistani rupees.