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Chashma Sugar Mills fiscal Q3 profit falls YOY

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Chashma Sugar Mills fiscal Q3 profit falls YOY

Chashma Sugar Mills Ltd. said its normalized net income for the fiscal third quarter ended June 30 amounted to 2.20 Pakistani rupees per share, a decline of 49.4% from 4.34 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 63.0 million rupees, a decrease of 49.4% from 124.5 million rupees in the prior-year period.

The normalized profit margin declined to 1.3% from 3.6% in the year-earlier period.

Total revenue climbed 40.6% on an annual basis to 4.85 billion rupees from 3.45 billion rupees, and total operating expenses rose 48.0% on an annual basis to 4.63 billion rupees from 3.12 billion rupees.

Reported net income declined 61.8% year over year to 73.5 million rupees, or 2.56 rupees per share, from 192.2 million rupees, or 6.70 rupees per share.

As of July 27, US$1 was equivalent to 104.83 Pakistani rupees.