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EESL fiscal Q3 loss narrows YOY

Emergent Global Edu & Services Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 17 Indian paise per share, compared with a loss of 46 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 780,000 rupees, compared with a loss of 2.1 million rupees in the year-earlier period.

Total revenue rose on an annual basis to 121,000 rupees from 58,000 rupees, and total operating expenses fell 61.3% year over year to 1.4 million rupees from 3.6 million rupees.

Reported net income came to a loss of 1.2 million rupees, or a loss of 27 paise per share, compared to a loss of 3.4 million rupees, or a loss of 74 paise per share, in the year-earlier period.

As of Feb. 11, US$1 was equivalent to 68.37 Indian rupees.