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Ravalgaon Sugar Farm fiscal Q1 loss narrows YOY

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Ravalgaon Sugar Farm fiscal Q1 loss narrows YOY

The Ravalgaon Sugar Farm Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 254.62 Indian rupees per share, compared with a loss of 333.83 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 a loss of 17.3 million rupees, compared with a loss of 22.7 million rupees in the year-earlier period.

The normalized profit margin increased to negative 14.2% from negative 44.9% in the year-earlier period.

Total revenue rose on an annual basis to 121.8 million rupees from 50.5 million rupees, and total operating expenses rose year over year to 144.6 million rupees from 72.0 million rupees.

Reported net income totaled a loss of 25.7 million rupees, or a loss of 378.42 rupees per share, compared to a loss of 36.6 million rupees, or a loss of 537.94 rupees per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.