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Tandlianwala Sugar Mills fiscal Q2 profit climbs YOY

Tandlianwala Sugar Mills Ltd said its normalized net income for the fiscal second quarter ended March 31 amounted to 1.71 Pakistani rupees per share, an increase from 52 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 200.8 million rupees, a gain from 61.3 million rupees in the year-earlier period.

The normalized profit margin increased to 3.3% from 1.7% in the year-earlier period.

Total revenue grew 70.4% on an annual basis to 6.16 billion rupees from 3.61 billion rupees, and total operating expenses grew 71.3% from the prior-year period to 5.52 billion rupees from 3.22 billion rupees.

Reported net income rose 75.8% from the prior-year period to 325.8 million rupees, or 2.77 rupees per share, from 185.3 million rupees, or 1.57 rupees per share.

As of June 9, US$1 was equivalent to 104.28 Pakistani rupees.