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CIAN Agro Industries fiscal Q3 loss narrows YOY

CIAN Agro Industries & Infrastructure Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 2.7 million rupees, compared with a loss of 6.9 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue declined 80.9% year over year to 825,000 rupees from 4.3 million rupees, and total operating expenses decreased 36.0% year over year to 5.4 million rupees from 8.4 million rupees.

Reported net income came to a loss of 4.3 million rupees, compared with a loss of 11.0 million rupees, or a loss of 1.36 rupees per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.