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Jamshri Ranjitsinghji fiscal Q3 loss narrows YOY

Jamshri Ranjitsinghji Spinning & Weaving Mills Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 24 Indian paise per share, compared with a loss of 84 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 1.7 million rupees, compared with a loss of 5.9 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 1.4% from negative 5.6% in the year-earlier period.

Total revenue rose 15.7% on an annual basis to 121.0 million rupees from 104.6 million rupees, and total operating expenses grew 8.2% on an annual basis to 124.1 million rupees from 114.7 million rupees.

Reported net income totaled a loss of 2.3 million rupees, or a loss of 33 paise per share, compared to a loss of 9.1 million rupees, or a loss of 1.30 rupees per share, in the year-earlier period.

As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.