SEL Manufacturing Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 35 Indian paise per share, compared with a loss of 1.43 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 116.8 million rupees, compared with a loss of 476.1 million rupees in the year-earlier period.
The normalized profit margin climbed to negative 1.9% from negative 5.4% in the year-earlier period.
Total revenue decreased 28.1% year over year to 6.30 billion rupees from 8.77 billion rupees, and total operating expenses fell 24.2% on an annual basis to 6.29 billion rupees from 8.31 billion rupees.
Reported net income came to a loss of 182.7 million rupees, or a loss of 55 paise per share, compared to a loss of 778.3 million rupees, or a loss of 2.34 rupees per share, in the prior-year period.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
