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Dharani Finance fiscal Q3 loss narrows YOY

Dharani Finance Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 7 Indian paise per share, compared with a loss of 17 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 337,500 rupees, compared with a loss of 842,500 rupees in the year-earlier period.

The normalized profit margin increased to negative 5.7% from negative 18.3% in the year-earlier period.

Total revenue rose 29.4% year over year to 6.0 million rupees from 4.6 million rupees, and total operating expenses grew 24.8% year over year to 7.8 million rupees from 6.3 million rupees.

Reported net income came to a loss of 540,000 rupees, or a loss of 11 paise per share, compared to a loss of 847,000 rupees, or a loss of 17 paise per share, in the prior-year period.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.