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Tandlianwala Sugar Mills swings to profit in fiscal Q4

4914826 said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2016, amounted to 1.65 Pakistani rupees per share, compared with a loss of 42 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 194.4 million rupees, compared with a loss of 49.3 million rupees in the prior-year period.

The normalized profit margin increased to 5.8% from negative 1.2% in the year-earlier period.

Total revenue fell 19.3% on an annual basis to 3.35 billion rupees from 4.15 billion rupees, and total operating expenses fell 27.8% from the prior-year period to 2.93 billion rupees from 4.06 billion rupees.

Reported net income totaled 429.4 million rupees, or 3.65 rupees per share, compared to a loss of 119.1 million rupees, or a loss of 1.01 rupees per share, in the year-earlier period.

For the year, the company's normalized net income totaled 4.95 rupees per share, a gain of 59.9% from 3.10 rupees per share in the prior year.

Normalized net income was 583.0 million rupees, a gain of 59.9% from 364.7 million rupees in the prior year.

Full-year total revenue rose 13.0% on an annual basis to 18.68 billion rupees from 16.52 billion rupees, and total operating expenses grew 13.0% year over year to 16.84 billion rupees from 14.90 billion rupees.

The company said reported net income increased 51.8% on an annual basis to 898.0 million rupees, or 7.63 rupees per share, in the full year, from 591.6 million rupees, or 5.03 rupees per share.

s of March 2, US$1 was equivalent to 104.83 Pakistani rupees.Tandlianwala Sugar Mills Ltd

4914826 said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2016, amounted to 1.65 Pakistani rupees per share, compared with a loss of 42 paisa per share in the year-earlier period.