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Tandlianwala Sugar Mills fiscal Q1 profit climbs YOY

Tandlianwala Sugar Mills Ltd said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 78 Pakistani paisa per share, a gain from 77 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 92.2 million rupees, a gain from 90.1 million rupees in the prior-year period.

The normalized profit margin rose to 3.7% from 2.6% in the year-earlier period.

Total revenue decreased 27.3% on an annual basis to 2.52 billion rupees from 3.47 billion rupees, and total operating expenses fell 29.3% on an annual basis to 2.21 billion rupees from 3.12 billion rupees.

Reported net income grew 11.8% year over year to 122.3 million rupees, or 1.04 rupees per share, from 109.4 million rupees, or 93 paisa per share.

As of April 20, US$1 was equivalent to 104.73 Pakistani rupees.