Chashma Sugar Mills Ltd said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to 1.74 Pakistani rupees per share, compared with a loss of 78 paisa per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.8 million rupees, compared with a loss of 22.5 million rupees in the year-earlier period.
The normalized profit margin climbed to 5.3% from negative 1.2% in the year-earlier period.
Total revenue fell 49.5% year over year to 936.1 million rupees from 1.85 billion rupees, and total operating expenses declined 57.5% from the prior-year period to 783.6 million rupees from 1.84 billion rupees.
Reported net income came to 72.3 million rupees, or 2.52 rupees per share, compared to a loss of 31.1 million rupees, or a loss of 1.08 rupees per share, in the year-earlier period.
As of Jan. 23, US$1 was equivalent to 100.89 Pakistani rupees.
