trending Market Intelligence /marketintelligence/en/news-insights/trending/rRZuN1fegvWSVjVWQgbCdw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Ugar Sugar Works swings to profit in fiscal Q2

Blog

Minimizing Risk at a Bank with a Trade Intelligence Platform

Blog

2021 US broadband forecast lifted by rising digital home profiles

Blog

Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9


Ugar Sugar Works swings to profit in fiscal Q2

The Ugar Sugar Works Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.66 Indian rupees per share, compared with a loss of 65 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 187.1 million rupees, compared with a loss of 73.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 20.1% from negative 5.5% in the year-earlier period.

Total revenue declined 30.2% on an annual basis to 930.5 million rupees from 1.33 billion rupees, and total operating expenses fell 62.2% from the prior-year period to 536.3 million rupees from 1.42 billion rupees.

Reported net income totaled 298.1 million rupees, or 2.65 rupees per share, compared to a loss of 107.3 million rupees, or a loss of 95 paise per share, in the year-earlier period.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.