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Zeal Bangla Sugar Mills fiscal Q1 loss widens YOY

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Zeal Bangla Sugar Mills fiscal Q1 loss widens YOY

Zeal Bangla Sugar Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to a loss of 7.47 taka per share, compared with a loss of 88 poisha per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 44.8 million taka, compared with a loss of 5.3 million taka in the year-earlier period.

The normalized profit margin declined to negative 25.7% from negative 6.2% in the year-earlier period.

Total revenue rose year over year to 174.6 million taka from 85.4 million taka, and total operating expenses rose from the prior-year period to 224.3 million taka from 86.3 million taka.

Reported net income totaled a loss of 71.7 million taka, or a loss of 11.95 taka per share, compared to a loss of 8.5 million taka, or a loss of 1.41 taka per share, in the prior-year period.

As of Oct. 15, US$1 was equivalent to 77.38 taka.