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Shaympur Sugar Mills fiscal Q3 loss narrows YOY

Shaympur Sugar Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 11.45 taka per share, compared with a loss of 12.88 taka 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 57.2 million taka, compared with a loss of 64.4 million taka in the prior-year period.

The normalized profit margin climbed to negative 58.7% from negative 238.1% in the year-earlier period.

Total revenue rose on an annual basis to 97.5 million taka from 27.0 million taka, and total operating expenses grew 74.7% from the prior-year period to 159.0 million taka from 91.0 million taka.

Reported net income came to a loss of 91.9 million taka, or a loss of 18.38 taka per share, compared to a loss of 103.0 million taka, or a loss of 20.60 taka per share, in the year-earlier period.

As of April 15, US$1 was equivalent to 77.75 taka.