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Central Azucarera de Tarlac fiscal Q1 loss widens 50.7% YOY

Central Azucarera de Tarlac said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of 29 Philippine centavos per share, compared with a loss of 20 centavos 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 83.2 million pesos, compared with a loss of 55.2 million pesos in the prior-year period.

The normalized profit margin dropped to negative 144.7% from negative 135.3% in the year-earlier period.

Total revenue climbed 41.0% on an annual basis to 57.5 million pesos from 40.8 million pesos, and total operating expenses increased 51.0% year over year to 192.7 million pesos from 127.6 million pesos.

Reported net income totaled a loss of 133.2 million pesos, or a loss of 47 centavos per share, compared to a loss of 88.4 million pesos, or a loss of 31 centavos per share, in the year-earlier period.

As of Nov. 17, US$1 was equivalent to 44.97 Philippine pesos.