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Anjani Foods fiscal Q2 loss widens YOY

Anjani Foods Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 17 Indian paise per share, compared with a loss of 8 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 691,880 rupees, compared with a loss of 325,880 rupees in the year-earlier period.

The normalized profit margin fell to negative 2.0% from negative 0.6% in the year-earlier period.

Total revenue fell 39.2% year over year to 33.8 million rupees from 55.6 million rupees, and total operating expenses decreased 36.9% year over year to 34.8 million rupees from 55.2 million rupees.

Reported net income came to a loss of 1.3 million rupees, or a loss of 33 paise per share, compared to a loss of 590,000 rupees, or a loss of 15 paise per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.