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DS Industries swings to loss in fiscal Q2

D.S. Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 23.4 million rupees, compared with income of 477,090 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 13.4% from 0.2% in the year-earlier period.

Total revenue declined 43.6% year over year to 174.5 million rupees from 309.2 million rupees, and total operating expenses decreased 30.7% year over year to 209.7 million rupees from 302.8 million rupees.

Reported net income came to 197.8 million rupees, or 3.30 rupees per share, compared to a loss of 1.3 million rupees, or a loss of 2 paisa per share, in the prior-year period.

As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.