Gamma-Civic Ltd. said its normalized net income for the first quarter came to a loss of 17 Mauritian cents per share, compared with 19 cents 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 22.7 million rupees, compared with income of 26.0 million rupees in the year-earlier period.
The normalized profit margin fell to negative 3.5% from 2.1% in the year-earlier period.
Total revenue decreased 45.8% year over year to 655.8 million rupees from 1.21 billion rupees, and total operating expenses decreased 42.3% year over year to 687.2 million rupees from 1.19 billion rupees.
Reported net income came to a loss of 50.2 million rupees, or a loss of 38 cents per share, compared to income of 30.1 million rupees, or 23 cents per share, in the prior-year period.
As of May 8, US$1 was equivalent to 34.95 Mauritian rupees.
