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Kohinoor Mills fiscal Q1 profit climbs 6.4% YOY

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Kohinoor Mills fiscal Q1 profit climbs 6.4% YOY

Kohinoor Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 92 Pakistani paisa per share, a gain of 5.5% from 87 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 46.8 million rupees, a gain of 6.4% from 44.0 million rupees in the prior-year period.

The normalized profit margin increased to 2.5% from 2.3% in the year-earlier period.

Total revenue grew on an annual basis to 2.00 billion rupees from 1.94 billion rupees, and total operating expenses increased on an annual basis to 1.83 billion rupees from 1.77 billion rupees.

Reported net income increased 7.9% year over year to 55.2 million rupees, or 1.08 rupees per share, from 51.2 million rupees, or 1.01 rupees per share.

As of Oct. 28, US$1 was equivalent to 103.05 Pakistani rupees.