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Dhampur Sugar Mills fiscal Q1 loss narrows YOY

Dhampur Sugar Mills Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 1.08 Indian rupees per share, compared with a loss of 2.91 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 a loss of 58.9 million rupees, compared with a loss of 162.3 million rupees in the year-earlier period.

The normalized profit margin rose to negative 1.5% from negative 4.0% in the year-earlier period.

Total revenue decreased 5.1% on an annual basis to 3.85 billion rupees from 4.06 billion rupees, and total operating expenses declined 7.5% on an annual basis to 3.56 billion rupees from 3.85 billion rupees.

Reported net income totaled a loss of 94.2 million rupees, or a loss of 1.73 rupees per share, compared to a loss of 203.8 million rupees, or a loss of 3.65 rupees per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.