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Welspun Investments & Commercials fiscal Q3 loss narrows YOY

Welspun Investments and Commercials Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 33,750 rupees, compared with a loss of 136,250 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 increased to negative 0.8% from negative 3.5% in the year-earlier period.

Total revenue climbed 10.9% on an annual basis to 4.3 million rupees from 3.9 million rupees, and total operating expenses grew 9.8% year over year to 4.5 million rupees from 4.1 million rupees.

Reported net income totaled a loss of 54,000 rupees, or a loss of 1 paise per share, compared to a loss of 218,000 rupees, or a loss of 6 paise per share, in the prior-year period.

As of Feb. 3, US$1 was equivalent to 68.01 Indian rupees.