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Vijay Textiles swings to loss in fiscal Q1

4910483 said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 3.47 Indian rupees per share, compared with 9 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 40.0 million rupees, compared with income of 1.0 million rupees in the year-earlier period.

The normalized profit margin fell to negative 14.2% from 0.4% in the year-earlier period.

Total revenue climbed 11.5% year over year to 280.4 million rupees from 251.4 million rupees, and total operating expenses increased 51.5% year over year to 295.9 million rupees from 195.3 million rupees.

eported net income came to a loss of 59.7 million rupees, Vijay Textiles Ltd