Rajvir Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 6.38 Indian rupees per share, compared with 1.14 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 19.4 million rupees, compared with income of 3.5 million rupees in the year-earlier period.
The normalized profit margin fell to negative 7.1% from 0.5% in the year-earlier period.
Total revenue declined 59.5% year over year to 272.7 million rupees from 672.5 million rupees, and total operating expenses declined 59.5% from the prior-year period to 249.8 million rupees from 617.0 million rupees.
Reported net income came to a loss of 20.7 million rupees, or a loss of 6.82 rupees per share, compared to income of 4.8 million rupees, or 1.57 rupees per share, in the prior-year period.
As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.
