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Alps Industries fiscal Q3 loss narrows YOY

Alps Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 97.6 million rupees, compared with a loss of 245.4 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 7.5% from negative 16.4% in the year-earlier period.

Total revenue decreased 13.1% on an annual basis to 1.30 billion rupees from 1.50 billion rupees, and total operating expenses declined 7.0% from the prior-year period to 1.46 billion rupees from 1.57 billion rupees.

Reported net income came to a loss of 156.1 million rupees, compared with a loss of 392.3 million rupees in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.