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Sanghar Sugar Mills fiscal Q2 profit climbs YOY

Sanghar Sugar Mills Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to 4.14 Pakistani rupees per share, a gain from 86 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.4 million rupees, a gain from 10.3 million rupees in the prior-year period.

The normalized profit margin rose to 7.7% from 1.2% in the year-earlier period.

Total revenue fell 22.2% year over year to 645.4 million rupees from 829.9 million rupees, and total operating expenses declined 30.5% from the prior-year period to 545.8 million rupees from 785.7 million rupees.

Reported net income increased year over year to 79.0 million rupees, or 6.61 rupees per share, from 7.8 million rupees, or 66 paisa per share.

As of May 27, US$1 was equivalent to 101.97 Pakistani rupees.