Artistic Denim Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 1.41 Pakistani rupees per share, a decline of 6.1% 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 118.1 million rupees, a decrease of 6.2% from 125.8 million rupees in the year-earlier period.
The normalized profit margin fell to 6.8% from 10.8% in the year-earlier period.
Total revenue rose 48.5% year over year to 1.73 billion rupees from 1.16 billion rupees, and total operating expenses increased 61.5% year over year to 1.48 billion rupees from 914.5 million rupees.
Reported net income decreased 6.1% on an annual basis to 181.1 million rupees, or 2.16 rupees per share, from 193.0 million rupees, or 2.30 rupees per share.
As of Feb. 18, US$1 was equivalent to 101.53 Pakistani rupees.
