Shahmurad Sugar Mills Ltd said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 1.38 Pakistani rupees per share, compared with a loss of 3.19 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 29.0 million rupees, compared with a loss of 67.3 million rupees in the prior-year period.
The normalized profit margin climbed to 1.5% from negative 4.7% in the year-earlier period.
Total revenue climbed 33.7% year over year to 1.90 billion rupees from 1.42 billion rupees, and total operating expenses climbed 24.4% year over year to 1.83 billion rupees from 1.47 billion rupees.
Reported net income totaled 16.2 million rupees, or 77 paisa per share, compared to a loss of 102.8 million rupees, or a loss of 4.87 rupees per share, in the year-earlier period.
As of Jan. 26, US$1 was equivalent to 104.91 Pakistani rupees.