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Alps Industries fiscal Q3 loss widens 36.7% YOY

Alps Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 245.4 million rupees, compared with a loss of 179.5 million rupees in the prior-year period.

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

The normalized profit margin declined to negative 16.4% from negative 8.6% in the year-earlier period.

Total revenue fell 28.5% year over year to 1.50 billion rupees from 2.09 billion rupees, and total operating expenses decreased 25.7% from the prior-year period to 1.57 billion rupees from 2.11 billion rupees.

Reported net income totaled a loss of 392.3 million rupees, compared with a loss of 287.3 million rupees in the year-earlier period.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.