Rajapalayam Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 2.24 Indian rupees per share, compared with 5.87 rupees 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 15.8 million rupees, compared with income of 45.8 million rupees in the prior-year period.
The normalized profit margin fell to negative 1.7% from 4.1% in the year-earlier period.
Total revenue declined 19.2% on an annual basis to 906.7 million rupees from 1.12 billion rupees, and total operating expenses fell 13.0% year over year to 866.0 million rupees from 994.9 million rupees.
Reported net income came to a loss of 28.1 million rupees, or a loss of 4.00 rupees per share, compared to income of 39.0 million rupees, or 5.00 rupees per share, in the year-earlier period.
As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.
