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Atlas Battery fiscal Q3 profit climbs 35.2% YOY

Atlas Battery Ltd said its normalized net income for the fiscal third quarter ended March 31 came to 13.92 Pakistani rupees per share, an increase of 35.3% from 10.29 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 242.2 million rupees, an increase of 35.2% from 179.1 million rupees in the year-earlier period.

The normalized profit margin climbed to 5.4% from 5.3% in the year-earlier period.

Total revenue increased 33.0% on an annual basis to 4.46 billion rupees from 3.36 billion rupees, and total operating expenses increased 33.0% year over year to 4.03 billion rupees from 3.03 billion rupees.

Reported net income rose 39.6% from the prior-year period to 274.0 million rupees, or 15.75 rupees per share, from 196.3 million rupees, or 11.28 rupees per share.

As of May 5, US$1 was equivalent to 101.75 Pakistani rupees.