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Ventura Textiles fiscal Q1 loss narrows YOY

Ventura Textiles Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 9 Indian paise per share, compared with a loss of 2.17 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 1.5 million rupees, compared with a loss of 5.4 million rupees in the year-earlier period.

Reported net income came to a loss of 2.4 million rupees, or a loss of 15 paise per share, compared to a loss of 8.6 million rupees, or a loss of 3.48 rupees per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.