RCL Retail Ltd. said its normalized net income for the fiscal first half ended Sept. 30 was 2.2 million rupees, compared with income of 3.3 million rupees in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue fell 97.5% on an annual basis to 3.6 million rupees from 143.7 million rupees, and total operating expenses declined 96.7% from the prior-year period to 4.7 million rupees from 142.1 million rupees.
Reported net income came to a loss of 3.5 million rupees, compared with income of 4.3 million rupees, or 35 paise per share, in the prior-year period.
As of Dec. 2, US$1 was equivalent to 61.84 Indian rupees.
