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.
