trending Market Intelligence /marketintelligence/en/news-insights/trending/yCVp6WReuaUWwtgSI-9kCQ2 content esgSubNav
In This List

Prosperity Weaving Mills swings to loss in fiscal Q1

Podcast

Street Talk | Episode 94: Recessionary fears in '22 overblown, Fed could overtighten

Blog

2022 broadband forecast shifts to market share battle with intense competition

Blog

Expand Your Perspective: Innovation

Blog

Optimism abounds in Indian online video industry


Prosperity Weaving Mills swings to loss in fiscal Q1

Prosperity Weaving Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to a loss of 1.33 Pakistani rupees per share, compared with 8 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 24.5 million rupees, compared with income of 1.4 million rupees in the prior-year period.

The normalized profit margin declined to negative 2.2% from 0.1% in the year-earlier period.

Total revenue decreased 20.6% on an annual basis to 1.14 billion rupees from 1.43 billion rupees, and total operating expenses fell 18.7% from the prior-year period to 1.15 billion rupees from 1.41 billion rupees.

Reported net income came to a loss of 39.3 million rupees, or a loss of 2.13 rupees per share, compared to income of 2.3 million rupees, or 12 paisa per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 105.47 Pakistani rupees.