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Telenav fiscal Q3 loss widens 29.7% YOY

Telenav Inc. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 14 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss grew 23.8% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.8 million, compared with a loss of $4.5 million in the prior-year period.

The normalized profit margin fell to negative 13.2% from negative 10.5% in the year-earlier period.

Total revenue climbed 9.4% year over year to $46.3 million from $42.3 million, and total operating expenses climbed 9.1% on an annual basis to $55.4 million from $50.8 million.

Reported net income came to a loss of $9.7 million, or a loss of 23 cents per share, compared to a loss of $4.8 million, or a loss of 12 cents per share, in the year-earlier period.