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ANS Industries swings to loss in fiscal Q3

ANS Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 2.6 million rupees, compared with income of 2.0 million rupees in the prior-year period.

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

The normalized profit margin fell to negative 60.0% from 9.3% in the year-earlier period.

Total revenue fell 79.6% year over year to 4.4 million rupees from 21.5 million rupees, and total operating expenses declined 57.0% on an annual basis to 7.9 million rupees from 18.3 million rupees.

Reported net income totaled a loss of 4.2 million rupees, compared with income of 3.2 million rupees, or 3 paise per share, in the year-earlier period.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.