Salona Cotspin Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 1.59 Indian rupees per share, compared with 2.49 rupees 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 8.3 million rupees, compared with income of 13.1 million rupees in the prior-year period.
The normalized profit margin dropped to negative 2.7% from 4.4% in the year-earlier period.
Total revenue grew year over year to 304.1 million rupees from 297.1 million rupees, and total operating expenses climbed 17.7% on an annual basis to 311.0 million rupees from 264.3 million rupees.
Reported net income totaled a loss of 10.7 million rupees, or a loss of 2.03 rupees per share, compared to income of 16.8 million rupees, or 3.19 rupees per share, in the year-earlier period.
As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.
