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Shaympur Sugar Mills fiscal Q1 loss widens 15.6% YOY

Shaympur Sugar Mills Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of 8.18 taka per share, compared with a loss of 7.08 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 40.9 million taka, compared with a loss of 35.4 million taka in the year-earlier period.

The normalized profit margin increased to negative 28.3% from negative 155.8% in the year-earlier period.

Total revenue increased year over year to 144.8 million taka from 22.7 million taka, and total operating expenses grew from the prior-year period to 187.2 million taka from 62.3 million taka.

Reported net income totaled a loss of 65.9 million taka, or a loss of 13.18 taka per share, compared to a loss of 56.6 million taka, or a loss of 11.33 taka per share, in the year-earlier period.

As of Oct. 30, US$1 was equivalent to 77.41 taka.