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Dhampur Sugar Mills fiscal Q1 loss widens YOY

Dhampur Sugar Mills Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 9.42 Indian rupees per share, compared with a loss of 1.08 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 550.7 million rupees, compared with a loss of 58.9 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 10.8% from negative 1.5% in the year-earlier period.

Total revenue increased 32.9% on an annual basis to 5.12 billion rupees from 3.85 billion rupees, and total operating expenses increased 55.1% from the prior-year period to 5.52 billion rupees from 3.56 billion rupees.

Reported net income totaled a loss of 881.1 million rupees, or a loss of 15.07 rupees per share, compared to a loss of 94.2 million rupees, or a loss of 1.73 rupees per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.