Al-Noor Sugar Mills Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to a loss of 8.06 Pakistani rupees per share, compared with a loss of 5.25 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 a loss of 164.9 million rupees, compared with a loss of 107.4 million rupees in the prior-year period.
The normalized profit margin declined to negative 10.0% from negative 5.8% in the year-earlier period.
Total revenue decreased 9.1% year over year to 1.69 billion rupees from 1.86 billion rupees, and total operating expenses fell on an annual basis to 1.88 billion rupees from 1.98 billion rupees.
Reported net income totaled a loss of 245.1 million rupees, or a loss of 11.97 rupees per share, compared to a loss of 158.1 million rupees, or a loss of 7.72 rupees per share, in the year-earlier period.
As of Jan. 30, US$1 was equivalent to 101.08 Pakistani rupees.
