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Anjani Foods swings to loss in fiscal Q3

Anjani Foods Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 3 Indian paise per share, compared with 17 paise 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 100,750 rupees, compared with income of 691,630 rupees in the year-earlier period.

The normalized profit margin fell to negative 0.3% from 1.1% in the year-earlier period.

Total revenue decreased 43.8% year over year to 34.0 million rupees from 60.5 million rupees, and total operating expenses fell 41.9% from the prior-year period to 34.3 million rupees from 59.1 million rupees.

Reported net income came to a loss of 224,000 rupees, or a loss of 6 paise per share, compared to income of 926,000 rupees, or 23 paise per share, in the year-earlier period.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.