Jauharabad Sugar Mills Ltd. said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2015, was a loss of 1.66 Pakistani rupees per share, compared with 4.03 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 a loss of 20.2 million rupees, compared with income of 48.3 million rupees in the prior-year period.
The normalized profit margin dropped to negative 3.0% from 11.6% in the year-earlier period.
Total revenue increased 61.9% on an annual basis to 673.4 million rupees from 415.8 million rupees, and total operating expenses climbed 35.9% on an annual basis to 673.2 million rupees from 495.2 million rupees.
Reported net income came to a loss of 1.8 million rupees, or a loss of 15 paisa per share, compared to income of 116.9 million rupees, or 9.73 rupees per share, in the year-earlier period.
For the year, the company's normalized net income totaled a loss of 92 paisa per share, compared with a loss of 4.08 rupees per share in the prior year.
Normalized net income was a loss of 11.0 million rupees, compared with a loss of 49.0 million rupees in the prior year.
Full-year total revenue decreased 16.6% year over year to 1.46 billion rupees from 1.74 billion rupees, and total operating expenses decreased 27.7% on an annual basis to 1.43 billion rupees from 1.97 billion rupees.
The company said reported net income totaled 5.1 million rupees, or 43 paisa per share, in the full year, compared with a loss of 38.9 million rupees, or a loss of 3.24 rupees per share, the prior year.
As of March 24, US$1 was equivalent to 104.72 Pakistani rupees.