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Eskay K'n'IT (India) fiscal Q1 loss narrows YOY

Eskay K'n'IT (India) Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 41 Indian paise per share, compared with a loss of 52 paise 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 114.6 million rupees, compared with a loss of 146.3 million rupees in the prior-year period.

The normalized profit margin climbed to negative 9.5% from negative 12.0% in the year-earlier period.

Total revenue declined year over year to 1.20 billion rupees from 1.22 billion rupees, and total operating expenses fell year over year to 1.26 billion rupees from 1.32 billion rupees.

Reported net income came to a loss of 183.4 million rupees, or a loss of 65 paise per share, compared to a loss of 234.1 million rupees, or a loss of 83 paise per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.