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Habib Sugar Mills fiscal Q3 profit climbs YOY

Habib Sugar Mills Ltd said its normalized net income for the fiscal third quarter ended June 30 came to 1.25 Pakistani rupees per share, an increase from 56 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 186.3 million rupees, a gain from 83.5 million rupees in the prior-year period.

The normalized profit margin rose to 5.1% from 4.0% in the year-earlier period.

Total revenue grew 72.9% on an annual basis to 3.65 billion rupees from 2.11 billion rupees, and total operating expenses rose 72.0% year over year to 3.37 billion rupees from 1.96 billion rupees.

Reported net income decreased 6.2% year over year to 254.3 million rupees, or 1.70 rupees per share, from 271.1 million rupees, or 1.81 rupees per share.

As of July 29, US$1 was equivalent to 104.83 Pakistani rupees.