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Calcom Vision swings to loss in fiscal Q1

Calcom Vision Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 25 Indian paise per share, compared with 3 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 827,500 rupees, compared with income of 94,380 rupees in the year-earlier period.

The normalized profit margin declined to negative 3.8% from 0.2% in the year-earlier period.

Total revenue decreased 43.8% year over year to 21.9 million rupees from 39.0 million rupees, and total operating expenses decreased 34.2% from the prior-year period to 25.7 million rupees from 39.0 million rupees.

Reported net income came to 165,000 rupees, or 5 paise per share, compared to 151,000 rupees, or 5 paise per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.