Punjab Oil Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 11.78 Pakistani rupees per share, a decline of 15.0% from 13.86 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 63.5 million rupees, a decline of 15.1% from 74.7 million rupees in the year-earlier period.
The normalized profit margin fell to 6.1% from 6.8% in the year-earlier period.
Total revenue declined 5.3% year over year to 1.05 billion rupees from 1.10 billion rupees, and total operating expenses fell from the prior-year period to 947.9 million rupees from 985.4 million rupees.
Reported net income decreased 25.3% year over year to 72.4 million rupees, or 13.43 rupees per share, from 96.9 million rupees, or 17.98 rupees per share.
As of Feb. 22, US$1 was equivalent to 104.80 Pakistani rupees.