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Tandlianwala Sugar Mills swings to profit in fiscal Q2

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.