Modern Dairies Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 2.37 Indian rupees per share, compared with a loss of 58 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 55.2 million rupees, compared with a loss of 13.6 million rupees in the prior-year period.
The normalized profit margin dropped to negative 3.4% from negative 0.8% in the year-earlier period.
Total revenue decreased on an annual basis to 1.64 billion rupees from 1.70 billion rupees, and total operating expenses came to 1.68 billion rupees, compared with 1.68 billion rupees in the year-earlier period.
Reported net income totaled a loss of 84.1 million rupees, or a loss of 3.60 rupees per share, compared to a loss of 17.0 million rupees, or a loss of 73 paise per share, in the prior-year period.
As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.
