Jauharabad Sugar Mills Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to 4.24 Pakistani rupees per share, compared with a loss of 5.22 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 50.9 million rupees, compared with a loss of 62.6 million rupees in the year-earlier period.

The normalized profit margin climbed to 17.6% from negative 13.3% in the year-earlier period.

Total revenue declined 38.4% on an annual basis to 289.7 million rupees from 470.5 million rupees, and total operating expenses decreased 61.7% from the prior-year period to 218.0 million rupees from 569.6 million rupees.

Reported net income came to 76.0 million rupees, or 6.33 rupees per share, compared to a loss of 100.2 million rupees, or a loss of 8.35 rupees per share, in the year-earlier period.

As of May 27, US$1 was equivalent to 101.97 Pakistani rupees.