Adam Sugar Mills Ltd said its normalized net income for the fiscal second quarter ended March 31 was 6.53 Pakistani rupees per share, compared with a loss of 2.71 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 112.9 million rupees, compared with a loss of 46.9 million rupees in the year-earlier period.

The normalized profit margin increased to 7.6% from negative 6.4% in the year-earlier period.

Total revenue increased on an annual basis to 1.49 billion rupees from 736.2 million rupees, and total operating expenses climbed 66.5% on an annual basis to 1.27 billion rupees from 762.0 million rupees.

Reported net income totaled 185.8 million rupees, or 10.74 rupees per share, compared to a loss of 40.0 million rupees, or a loss of 2.31 rupees per share, in the year-earlier period.

As of May 26, US$1 was equivalent to 104.80 Pakistani rupees.