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Sir Shadi Lal Enterprises fiscal Q3 loss narrows YOY

Sir Shadi Lal Enterprises Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 19.04 Indian rupees per share, compared with a loss of 27.37 rupees 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 100.0 million rupees, compared with a loss of 143.7 million rupees in the year-earlier period.

The normalized profit margin rose to negative 8.9% from negative 10.2% in the year-earlier period.

Total revenue decreased 19.6% on an annual basis to 1.13 billion rupees from 1.40 billion rupees, and total operating expenses decreased 21.4% from the prior-year period to 1.25 billion rupees from 1.59 billion rupees.

Reported net income totaled a loss of 160.0 million rupees, or a loss of 30.47 rupees per share, compared to a loss of 177.0 million rupees, or a loss of 33.71 rupees per share, in the year-earlier period.

As of Jan. 15, US$1 was equivalent to 61.77 Indian rupees.