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Habib Sugar Mills fiscal Q2 profit climbs 34.3% YOY

Habib Sugar Mills Ltd. said its normalized net income for the fiscal second quarter ended March 31 was 1.33 Pakistani rupees per share, a gain of 34.5% from 99 paisa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 199.0 million rupees, an increase of 34.3% from 148.2 million rupees in the year-earlier period.

The normalized profit margin increased to 7.6% from 5.7% in the year-earlier period.

Total revenue increased year over year to 2.63 billion rupees from 2.60 billion rupees, and total operating expenses increased from the prior-year period to 2.40 billion rupees from 2.37 billion rupees.

Reported net income increased 10.5% from the prior-year period to 312.0 million rupees, or 2.08 rupees per share, from 282.4 million rupees, or 1.88 rupees per share.

As of May 28, US$1 was equivalent to 101.92 Pakistani rupees.