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Chenab fiscal Q3 loss widens 11.0% YOY

Chenab Ltd said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 53 Pakistani paisa per share, compared with a loss of 47 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 60.3 million rupees, compared with a loss of 54.3 million rupees in the prior-year period.

The normalized profit margin declined to negative 10.6% from negative 9.4% in the year-earlier period.

Total revenue decreased year over year to 568.1 million rupees from 577.0 million rupees, and total operating expenses rose from the prior-year period to 642.8 million rupees from 626.9 million rupees.

Reported net income totaled a loss of 98.3 million rupees, or a loss of 86 paisa per share, compared to a loss of 87.5 million rupees, or a loss of 76 paisa per share, in the year-earlier period.

As of May 1, US$1 was equivalent to 101.69 Pakistani rupees.