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Ravi Kumar Distilleries fiscal Q3 loss widens YOY

Ravi Kumar Distilleries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 47 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 11.3 million rupees, compared with a loss of 562,500 rupees in the year-earlier period.

The normalized profit margin dropped to negative 9.5% from negative 0.7% in the year-earlier period.

Total revenue grew 37.5% year over year to 118.2 million rupees from 86.0 million rupees, and total operating expenses increased 29.3% on an annual basis to 117.8 million rupees from 91.1 million rupees.

Reported net income came to a loss of 18.0 million rupees, or a loss of 75 paise per share, compared to a loss of 800,000 rupees, or a loss of 3 paise per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.