Tandlianwala Sugar Mills Ltd said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2015, was a loss of 42 Pakistani paisa per share, compared with 39 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 a loss of 49.3 million rupees, compared with income of 45.3 million rupees in the year-earlier period.
The normalized profit margin fell to negative 1.2% from 1.3% in the year-earlier period.
Total revenue grew 14.9% on an annual basis to 4.15 billion rupees from 3.61 billion rupees, and total operating expenses rose 22.6% from the prior-year period to 4.06 billion rupees from 3.31 billion rupees.
Reported net income came to a loss of 119.1 million rupees, or a loss of 1.01 rupees per share, compared to income of 128.0 million rupees, or 1.09 rupees per share, in the prior-year period.
For the year, the company's normalized net income totaled 3.10 rupees per share, a gain from 43 paisa per share in the prior year.
Normalized net income was 364.7 million rupees, a gain from 50.3 million rupees in the prior year.
Full-year total revenue rose 27.1% from the prior-year period to 16.52 billion rupees from 13.00 billion rupees, and total operating expenses increased 23.8% year over year to 14.90 billion rupees from 12.03 billion rupees.
The company said reported net income grew year over year to 591.6 million rupees, or 5.03 rupees per share, in the full year, from 247.1 million rupees, or 2.10 rupees per share.
As of March 11, US$1 was equivalent to 104.67 Pakistani rupees.