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Ashima fiscal Q2 loss widens YOY

Ashima Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 2.33 Indian rupees per share, compared with a loss of 68 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 74.2 million rupees, compared with a loss of 18.9 million rupees in the year-earlier period.

The normalized profit margin fell to negative 11.9% from negative 3.1% in the year-earlier period.

Total revenue climbed year over year to 624.4 million rupees from 609.6 million rupees, and total operating expenses climbed 15.2% on an annual basis to 733.1 million rupees from 636.2 million rupees.

Reported net income totaled a loss of 118.7 million rupees, or a loss of 3.73 rupees per share, compared to a loss of 30.2 million rupees, or a loss of 1.08 rupees per share, in the prior-year period.

As of Oct. 21, US$1 was equivalent to 61.15 Indian rupees.