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Asahi India Glass fiscal Q1 loss narrows YOY

Asahi India Glass Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 15 Indian paise per share, compared with a loss of 1.76 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 35.4 million rupees, compared with a loss of 281.7 million rupees in the prior-year period.

The normalized profit margin increased to negative 0.7% from negative 5.6% in the year-earlier period.

Total revenue climbed on an annual basis to 5.29 billion rupees from 5.06 billion rupees, and total operating expenses grew year over year to 4.94 billion rupees from 4.84 billion rupees.

Reported net income totaled a loss of 41.0 million rupees, or a loss of 17 paise per share, compared to a loss of 310.1 million rupees, or a loss of 1.94 rupees per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.