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.