Habib Sugar Mills Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to 19 Pakistani paisa per share, a decline of 16.4% from 23 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 28.6 million rupees, a decline of 15.4% from 33.8 million rupees in the year-earlier period.
The normalized profit margin declined to 2.4% from 3.4% in the year-earlier period.
Total revenue rose 21.7% on an annual basis to 1.20 billion rupees from 989.2 million rupees, and total operating expenses grew 27.6% on an annual basis to 1.21 billion rupees from 947.2 million rupees.
Reported net income grew from the prior-year period to 48.4 million rupees, or 32 paisa per share, from 46.4 million rupees, or 31 paisa per share.
As of Jan. 30, US$1 was equivalent to 101.08 Pakistani rupees.
