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Tarai Foods fiscal Q3 loss narrows YOY

Tarai Foods Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 4 Indian paise per share, compared with a loss of 8 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 637,500 rupees, compared with a loss of 1.0 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 12.2% from negative 19.2% in the year-earlier period.

Total revenue declined on an annual basis to 5.2 million rupees from 5.4 million rupees, and total operating expenses decreased 11.8% from the prior-year period to 6.2 million rupees from 7.0 million rupees.

Reported net income came to a loss of 2.0 million rupees, or a loss of 14 paise per share, compared to a loss of 1.7 million rupees, or a loss of 12 paise per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.