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Mirpurkhas Sugar Mills fiscal Q3 profit climbs 52.4% YOY

Mirpurkhas Sugar Mills Ltd said its normalized net income for the fiscal third quarter ended June 30 amounted to 3.73 Pakistani rupees per share, an increase of 52.4% from 2.45 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 45.8 million rupees, an increase of 52.4% from 30.1 million rupees in the prior-year period.

The normalized profit margin climbed to 3.8% from 2.3% in the year-earlier period.

Total revenue decreased 9.0% year over year to 1.21 billion rupees from 1.33 billion rupees, and total operating expenses fell 9.4% year over year to 1.12 billion rupees from 1.23 billion rupees.

Reported net income rose on an annual basis to 50.4 million rupees, or 4.11 rupees per share, from 4.7 million rupees, or 38 paisa per share.

As of July 29, US$1 was equivalent to 104.83 Pakistani rupees.