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Tamilnadu Jai Bharath Mills fiscal Q3 loss widens YOY

Tamilnadu Jai Bharath Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 22 Indian paise per share, compared with a loss of 9 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 8.7 million rupees, compared with a loss of 2.7 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 4.4% from negative 1.3% in the year-earlier period.

Total revenue decreased 5.2% on an annual basis to 197.3 million rupees from 208.1 million rupees, and total operating expenses increased from the prior-year period to 193.8 million rupees from 188.3 million rupees.

Reported net income came to a loss of 13.8 million rupees, or a loss of 35 paise per share, compared to a loss of 4.4 million rupees, or a loss of 15 paise per share, in the year-earlier period.

As of Feb. 16, US$1 was equivalent to 62.15 Indian rupees.