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Ansari Sugar Mills swings to loss in fiscal Q2

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Ansari Sugar Mills swings to loss in fiscal Q2

4913831 said its normalized net income for the fiscal second quarter ended March 31 came to a loss of 35 Pakistani paisa per share, compared with 2.15 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 8.5 million rupees, compared with income of 52.6 million rupees in the prior-year period.

The normalized profit margin declined to negative 1.6% from 10.3% in the year-earlier period.

Total revenue rose on an annual basis to 531.2 million rupees from 510.6 million rupees, and total operating expenses climbed 33.9% on an annual basis to 438.7 million rupees from 327.7 million rupees.

eported net income totaled a loss of 30.9 million rupees, or a Ansari Sugar Mills Ltd..