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Orosil Smiths India fiscal Q3 loss widens YOY

Orosil Smiths India Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 2 Indian paise per share, compared with a loss of 1 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 961,250 rupees, compared with a loss of 428,750 rupees in the year-earlier period.

The normalized profit margin fell to negative 13.6% from negative 5.1% in the year-earlier period.

Total revenue fell 16.0% on an annual basis to 7.1 million rupees from 8.4 million rupees, and total operating expenses fell year over year to 8.4 million rupees from 8.9 million rupees.

Reported net income came to a loss of 1.5 million rupees, or a loss of 4 paise per share, compared to a loss of 686,000 rupees, or a loss of 2 paise per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.