Tandlianwala Sugar Mills Ltd said its normalized net income for the fiscal second quarter ended March 31 amounted to 52 Pakistani paisa per share, compared with a loss of 1.31 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 61.3 million rupees, compared with a loss of 153.9 million rupees in the prior-year period.

The normalized profit margin increased to 1.7% from negative 4.2% in the year-earlier period.

Total revenue totaled 3.61 billion rupees, compared with 3.63 billion rupees in the prior-year period, and total operating expenses declined 10.7% on an annual basis to 3.22 billion rupees from 3.61 billion rupees.

Reported net income came to 185.3 million rupees, or 1.57 rupees per share, compared to a loss of 104.7 million rupees, or a loss of 89 paisa per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 101.81 Pakistani rupees.