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Ajanta Soya swings to loss in fiscal Q2

Ajanta Soya Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 21 Indian paise per share, compared with 20 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 3.3 million rupees, compared with income of 2.9 million rupees in the prior-year period.

The normalized profit margin declined to negative 0.2% from 0.2% in the year-earlier period.

Total revenue fell on an annual basis to 1.50 billion rupees from 1.56 billion rupees, and total operating expenses fell from the prior-year period to 1.51 billion rupees from 1.55 billion rupees.

Reported net income totaled a loss of 3.9 million rupees, or a loss of 25 paise per share, compared to income of 2.1 million rupees, or 14 paise per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.