Shahtaj Sugar Mills Ltd. said its normalized net income for the fiscal third quarter ended June 30 was 9.52 Pakistani rupees per share, compared with a loss of 3.28 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 114.3 million rupees, compared with a loss of 39.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 6.9% from negative 2.9% in the year-earlier period.

Total revenue grew 23.3% on an annual basis to 1.66 billion rupees from 1.35 billion rupees, and total operating expenses rose 6.6% on an annual basis to 1.46 billion rupees from 1.37 billion rupees.

Reported net income totaled 166.3 million rupees, or 13.85 rupees per share, compared to a loss of 43.1 million rupees, or a loss of 3.59 rupees per share, in the prior-year period.

As of Aug. 4, US$1 was equivalent to 104.67 Pakistani rupees.