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Sakrand Sugar Mills fiscal Q3 loss narrows YOY

Sakrand Sugar Mills Ltd. said its normalized net income for the fiscal third quarter ended June 30 came to a loss of 1.94 Pakistani rupees per share, compared with a loss of 1.95 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 43.2 million rupees, compared with a loss of 43.6 million rupees in the prior-year period.

Reported net income came to a loss of 69.1 million rupees, or a loss of 3.10 rupees per share, compared to a loss of 75.2 million rupees, or a loss of 3.37 rupees per share, in the year-earlier period.

As of July 29, US$1 was equivalent to 104.83 Pakistani rupees.