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JDW Sugar Mills fiscal Q1 profit falls YOY

JDW Sugar Mills Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to 3.52 Pakistani rupees per share, compared with 3.54 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 210.1 million rupees, compared with 211.9 million rupees in the year-earlier period.

The normalized profit margin fell to 2.4% from 3.1% in the year-earlier period.

Total revenue rose 28.8% on an annual basis to 8.86 billion rupees from 6.88 billion rupees, and total operating expenses rose 27.2% year over year to 7.84 billion rupees from 6.17 billion rupees.

Reported net income rose on an annual basis to 204.7 million rupees, or 3.43 rupees per share, from 198.5 million rupees, or 3.32 rupees per share.

As of Jan. 30, US$1 was equivalent to 101.08 Pakistani rupees.