The Ugar Sugar Works Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 74 Indian paise per share, compared with a loss of 69 paise 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 83.3 million rupees, compared with a loss of 78.2 million rupees in the prior-year period.
The normalized profit margin declined to negative 14.7% from negative 6.1% in the year-earlier period.
Total revenue declined 55.5% on an annual basis to 567.8 million rupees from 1.28 billion rupees, and total operating expenses declined 51.0% year over year to 672.9 million rupees from 1.37 billion rupees.
Reported net income came to a loss of 149.3 million rupees, or a loss of 1.33 rupees per share, compared to a loss of 102.8 million rupees, or a loss of 91 paise per share, in the prior-year period.
As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.
