Rainbow Denim Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 1.48 Indian rupees per share, compared with a loss of 3.52 rupees 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 19.7 million rupees, compared with a loss of 46.8 million rupees in the year-earlier period.
The normalized profit margin climbed to negative 4.4% from negative 17.2% in the year-earlier period.
Total revenue rose 65.3% year over year to 450.6 million rupees from 272.6 million rupees, and total operating expenses climbed 39.2% year over year to 456.2 million rupees from 327.7 million rupees.
Reported net income totaled a loss of 31.5 million rupees, or a loss of 2.37 rupees per share, compared to a loss of 74.9 million rupees, or a loss of 5.64 rupees per share, in the prior-year period.
As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.
