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Tandlianwala Sugar Mills fiscal Q1 profit falls YOY

Tandlianwala Sugar Mills Ltd said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to 77 Pakistani paisa per share, a decline of 19.4% from 95 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 90.1 million rupees, a decrease of 21.1% from 114.1 million rupees in the year-earlier period.

The normalized profit margin fell to 2.6% from 3.8% in the year-earlier period.

Total revenue grew 14.4% on an annual basis to 3.47 billion rupees from 3.03 billion rupees, and total operating expenses increased 13.3% on an annual basis to 3.12 billion rupees from 2.76 billion rupees.

Reported net income declined 28.1% year over year to 109.4 million rupees, or 93 paisa per share, from 152.3 million rupees, or 1.27 rupees per share.

As of April 15, US$1 was equivalent to 101.64 Pakistani rupees.