Vyapar Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 was a loss of 17 Indian paise per share, compared with a loss of 1 paise 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 1.8 million rupees, compared with a loss of 143,750 rupees in the prior-year period.
The normalized profit margin declined to negative 6.2% from negative 0.3% in the year-earlier period.
Total revenue decreased 30.5% year over year to 29.7 million rupees from 42.7 million rupees, and total operating expenses decreased 26.1% from the prior-year period to 34.2 million rupees from 46.2 million rupees.
Reported net income came to a loss of 11.9 million rupees, or a loss of 1.09 rupees per share, compared to a loss of 230,000 rupees, or a loss of 2 paise per share, in the year-earlier period.
As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.
