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RCL Foods fiscal Q3 loss narrows YOY

RCL Foods Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 2 Indian paise per share, compared with a loss of 7 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 93,750 rupees, compared with a loss of 306,250 rupees in the year-earlier period.

The normalized profit margin climbed to negative 2.8% from negative 8.0% in the year-earlier period.

Total revenue fell 12.6% on an annual basis to 3.3 million rupees from 3.8 million rupees, and total operating expenses totaled 3.4 million rupees, compared with 3.4 million rupees in the year-earlier period.

Reported net income totaled a loss of 2.2 million rupees, or a loss of 49 paise per share, compared to a loss of 490,000 rupees, or a loss of 11 paise per share, in the prior-year period.

As of Feb. 15, US$1 was equivalent to 68.14 Indian rupees.