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JDW Sugar Mills fiscal Q2 profit climbs YOY

JDW Sugar Mills Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to 7.59 Pakistani rupees per share, a gain from 1.51 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 453.7 million rupees, a gain from 90.0 million rupees in the year-earlier period.

The normalized profit margin climbed to 5.1% from 1.1% in the year-earlier period.

Total revenue increased 10.4% on an annual basis to 8.87 billion rupees from 8.04 billion rupees, and total operating expenses increased from the prior-year period to 7.27 billion rupees from 7.13 billion rupees.

Reported net income rose from the prior-year period to 1.05 billion rupees, or 17.60 rupees per share, from 141.5 million rupees, or 2.37 rupees per share.

As of May 22, US$1 was equivalent to 101.92 Pakistani rupees.