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Dhampur Sugar Mills fiscal Q2 loss narrows YOY

Dhampur Sugar Mills Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 79 Indian paise per share, compared with a loss of 6.54 rupees 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 44.0 million rupees, compared with a loss of 371.3 million rupees in the prior-year period.

The normalized profit margin increased to negative 0.7% from negative 10.2% in the year-earlier period.

Total revenue climbed 78.3% on an annual basis to 6.46 billion rupees from 3.62 billion rupees, and total operating expenses increased 59.5% year over year to 6.14 billion rupees from 3.85 billion rupees.

Reported net income came to a loss of 70.4 million rupees, or a loss of 1.27 rupees per share, compared to a loss of 594.1 million rupees, or a loss of 10.46 rupees per share, in the prior-year period.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.