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Photoquip India swings to loss in fiscal Q3

Photoquip India Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 90 Indian paise per share, compared with 38 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 4.3 million rupees, compared with income of 1.8 million rupees in the prior-year period.

The normalized profit margin declined to negative 1.8% from 0.8% in the year-earlier period.

Total revenue grew on an annual basis to 240.0 million rupees from 234.8 million rupees, and total operating expenses grew 7.2% year over year to 242.6 million rupees from 226.2 million rupees.

Reported net income grew on an annual basis to 11.9 million rupees, or 2.48 rupees per share, from 2.4 million rupees, or 49 paise per share.

As of Feb. 20, US$1 was equivalent to 62.25 Indian rupees.