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Shaympur Sugar Mills fiscal Q2 loss widens 45.3% YOY

Shaympur Sugar Mills Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 12.80 taka per share, compared with a loss of 8.81 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 64.0 million taka, compared with a loss of 44.0 million taka in the year-earlier period.

The normalized profit margin rose to negative 108.5% from negative 174.3% in the year-earlier period.

Total revenue climbed year over year to 59.0 million taka from 25.3 million taka, and total operating expenses grew 61.1% from the prior-year period to 124.3 million taka from 77.2 million taka.

Reported net income totaled a loss of 102.6 million taka, or a loss of 20.51 taka per share, compared to a loss of 70.5 million taka, or a loss of 14.09 taka per share, in the year-earlier period.

As of Jan. 15, US$1 was equivalent to 77.86 taka.