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Shakarganj fiscal Q1 loss narrows YOY

Shakarganj Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to a loss of 76 Pakistani paisa per share, compared with a loss of 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 a loss of 52.7 million rupees, compared with a loss of 170.4 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 3.3% from negative 10.0% in the year-earlier period.

Total revenue decreased 5.2% year over year to 1.62 billion rupees from 1.70 billion rupees, and total operating expenses decreased 9.4% year over year to 1.72 billion rupees from 1.90 billion rupees.

Reported net income totaled a loss of 98.6 million rupees, or a loss of 1.42 rupees per share, compared to a loss of 295.6 million rupees, or a loss of 4.25 rupees per share, in the year-earlier period.

As of Jan. 28, US$1 was equivalent to 100.89 Pakistani rupees.