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BPL Ltd. swings to loss in fiscal Q3

BPL Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of 239,380 rupees, compared with income of 2.2 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.2% from 3.6% in the year-earlier period.

Total revenue rose 75.5% on an annual basis to 107.3 million rupees from 61.1 million rupees, and total operating expenses climbed 84.0% from the prior-year period to 108.7 million rupees from 59.1 million rupees.

Reported net income came to a loss of 254.7 million rupees, or a loss of 5.21 rupees per share, compared to income of 3.5 million rupees, or 7 paise per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.