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Tricom Fruit Products fiscal Q2 loss widens 13.7% YOY

Tricom Fruit Products Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 1.02 Indian rupees per share, compared with a loss of 84 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 16.3 million rupees, compared with a loss of 14.3 million rupees in the year-earlier period.

The normalized profit margin was 296.6%.

Total revenue increased year over year to 5.5 million rupees from 32,000 rupees, and total operating expenses climbed 88.1% year over year to 16.8 million rupees from 8.9 million rupees.

Reported net income came to a loss of 26.1 million rupees, or a loss of 1.64 rupees per share, compared to a loss of 23.0 million rupees, or a loss of 1.34 rupees per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.