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BCPL International swings to loss in fiscal Q1

BCPL International Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 148,130 rupees, compared with income of 43,750 rupees in the prior-year period.

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

Total revenue declined 89.9% year over year to 46,000 rupees from 456,000 rupees, and total operating expenses decreased 66.6% from the prior-year period to 129,000 rupees from 386,000 rupees.

Reported net income came to a loss of 237,000 rupees, or a loss of 1 paise per share, compared to income of 49,000 rupees in the prior-year period.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.