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LML Ltd. fiscal Q1 loss widens 6.9% YOY

LML Ltd said its normalized net income for the fiscal first quarter ended June 30 was a loss of 1.70 Indian rupees per share, compared with a loss of 1.59 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 139.3 million rupees, compared with a loss of 130.2 million rupees in the year-earlier period.

The normalized profit margin fell to negative 37.9% from negative 25.6% in the year-earlier period.

Total revenue fell 27.6% on an annual basis to 368.0 million rupees from 508.1 million rupees, and total operating expenses declined 21.5% on an annual basis to 480.6 million rupees from 612.0 million rupees.

Reported net income totaled a loss of 222.9 million rupees, or a loss of 2.72 rupees per share, compared to a loss of 208.4 million rupees, or a loss of 2.54 rupees per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.