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Calcom Vision swings to loss in fiscal Q3

Calcom Vision Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 14 Indian paise per share, compared with 35 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 461,250 rupees, compared with income of 1.1 million rupees in the prior-year period.

The normalized profit margin fell to negative 1.4% from 3.0% in the year-earlier period.

Total revenue decreased 14.3% year over year to 32.5 million rupees from 38.0 million rupees, and total operating expenses fell 9.4% on an annual basis to 32.8 million rupees from 36.2 million rupees.

Reported net income totaled a loss of 5.4 million rupees, or a loss of 1.66 rupees per share, compared to income of 1.8 million rupees, or 56 paise per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.