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Industria Textil Piura Q2 loss widens YOY

Industria Textil Piura SA said its second-quarter normalized net income came to a loss of 9 Peruvian céntimos per share, compared with a loss of 4 céntimos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 6.2 million soles, compared with a loss of 3.0 million soles in the year-earlier period.

The normalized profit margin dropped to negative 40.7% from negative 13.8% in the year-earlier period.

Total revenue declined 31.0% on an annual basis to 15.2 million soles from 22.0 million soles, and total operating expenses rose 8.5% from the prior-year period to 23.4 million soles from 21.5 million soles.

Reported net income came to a loss of 9.9 million soles, or a loss of 14 céntimos per share, compared to a loss of 3.7 million soles, or a loss of 5 céntimos per share, in the prior-year period.

As of July 27, US$1 was equivalent to 3.36 soles.