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Piramal Phytocare fiscal Q3 loss narrows YOY

Piramal Phytocare Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 19 Indian paise per share, compared with a loss of 25 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 4.1 million rupees, compared with a loss of 6.9 million rupees in the year-earlier period.

The normalized profit margin increased to negative 26.1% from negative 109.1% in the year-earlier period.

Total revenue increased on an annual basis to 15.8 million rupees from 6.3 million rupees, and total operating expenses grew 32.0% from the prior-year period to 23.1 million rupees from 17.5 million rupees.

Reported net income totaled a loss of 6.6 million rupees, or a loss of 30 paise per share, compared to a loss of 11.0 million rupees, or a loss of 40 paise per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.