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Tarai Foods fiscal Q1 loss narrows YOY

Tarai Foods Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 3 Indian paise per share, compared with a loss of 4 paise 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 387,500 rupees, compared with a loss of 525,000 rupees in the prior-year period.

The normalized profit margin increased to negative 8.3% from negative 9.6% in the year-earlier period.

Total revenue declined 14.4% on an annual basis to 4.7 million rupees from 5.5 million rupees, and total operating expenses fell 17.0% on an annual basis to 5.3 million rupees from 6.4 million rupees.

Reported net income totaled a loss of 620,000 rupees, or a loss of 4 paise per share, compared to a loss of 840,000 rupees, or a loss of 6 paise per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.