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Piramal Phytocare fiscal Q1 loss narrows YOY

Piramal Phytocare Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 19 Indian paise per share, compared with a loss of 6 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 5.6 million rupees, compared with a loss of 9.8 million rupees in the year-earlier period.

The normalized profit margin was 53.1%.

Total revenue climbed year over year to 10.6 million rupees from 3.1 million rupees, and total operating expenses increased 5.7% from the prior-year period to 20.5 million rupees from 19.4 million rupees.

Reported net income totaled a loss of 9.0 million rupees, or a loss of 30 paise per share, compared to a loss of 15.6 million rupees, or a loss of 10 paise per share, in the year-earlier period.

As of July 17, US$1 was equivalent to 60.16 Indian rupees.