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Abdullah Shah Ghazi Sugar Mills fiscal Q1 loss widens YOY

Abdullah Shah Ghazi Sugar Mills Ltd said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was a loss of 63 Pakistani paisa per share, compared with a loss of 15 paisa 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 49.8 million rupees, compared with a loss of 12.1 million rupees in the prior-year period.

The normalized profit margin climbed to negative 19.1% from negative 28.3% in the year-earlier period.

Total revenue grew on an annual basis to 260.9 million rupees from 42.7 million rupees, and total operating expenses increased from the prior-year period to 317.5 million rupees from 36.9 million rupees.

Reported net income came to a loss of 76.9 million rupees, or a loss of 97 paisa per share, compared to a loss of 14.9 million rupees, or a loss of 19 paisa per share, in the year-earlier period.

As of March 2, US$1 was equivalent to 101.88 Pakistani rupees.