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.
