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Hindustan Foods fiscal Q1 loss widens 78.2% YOY

Hindustan Foods Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 90 Indian paise per share, compared with a loss of 51 paise per share in the first quarter ended Dec. 31, 2013.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.5 million rupees, compared with a loss of 2.5 million rupees in the first quarter ended Dec. 31, 2013.

The normalized profit margin increased to negative 18.0% from negative 25.2% in the year-earlier period.

Total revenue climbed on an annual basis to 24.9 million rupees from 10.0 million rupees, and total operating expenses grew year over year to 28.6 million rupees from 11.1 million rupees.

Reported net income came to a loss of 7.2 million rupees, or a loss of 1.44 rupees per share, compared to a loss of 4.0 million rupees, or a loss of 81 paise per share, in the first quarter ended Dec. 31, 2013.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.