Sanghar Sugar Mills Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to 29 Pakistani paisa per share, compared with a loss of 85 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.4 million rupees, compared with a loss of 10.2 million rupees in the prior-year period.

The normalized profit margin climbed to 0.3% from negative 1.4% in the year-earlier period.

Total revenue rose 40.3% year over year to 1.06 billion rupees from 752.6 million rupees, and total operating expenses rose 37.8% on an annual basis to 1.04 billion rupees from 755.4 million rupees.

Reported net income came to a loss of 13.1 million rupees, or a loss of 1.10 rupees per share, compared to a loss of 17.4 million rupees, or a loss of 1.46 rupees per share, in the year-earlier period.

As of Jan. 29, US$1 was equivalent to 104.89 Pakistani rupees.