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NB Footwear fiscal Q1 loss widens 8.8% YOY

NB Footwear Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 3 Indian paise per share, compared with a loss of 2 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 316,880 rupees, compared with a loss of 291,250 rupees in the year-earlier period.

Reported net income came to a loss of 507,000 rupees, or a loss of 4 paise per share, compared to a loss of 466,000 rupees, or a loss of 3 paise per share, in the prior-year period.

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