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Photoquip India profit holds relatively steady YOY in fiscal Q1

Photoquip India Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 85 Indian paise per share, compared with a loss of 85 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 4.1 million rupees, compared with a loss of 4.1 million rupees in the prior-year period.

The normalized profit margin increased to negative 1.6% from negative 1.8% in the year-earlier period.

Total revenue rose 14.0% on an annual basis to 257.4 million rupees from 225.8 million rupees, and total operating expenses rose 13.5% from the prior-year period to 259.6 million rupees from 228.8 million rupees.

Reported net income totaled a loss of 4.9 million rupees, or a loss of 1.02 rupees per share, compared to a loss of 4.1 million rupees, or a loss of 86 paise per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.