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Dhampur Sugar Mills fiscal Q3 loss narrows YOY

Dhampur Sugar Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 3.04 Indian rupees per share, compared with a loss of 8.21 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 170.2 million rupees, compared with a loss of 467.0 million rupees in the prior-year period.

The normalized profit margin climbed to negative 2.9% from negative 10.7% in the year-earlier period.

Total revenue climbed 33.3% year over year to 5.79 billion rupees from 4.34 billion rupees, and total operating expenses grew 18.7% year over year to 5.73 billion rupees from 4.83 billion rupees.

Reported net income came to a loss of 193.0 million rupees, or a loss of 3.45 rupees per share, compared to a loss of 747.2 million rupees, or a loss of 13.13 rupees per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.