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Hindustan Foods fiscal Q2 loss narrows YOY

Hindustan Foods Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 6 Indian paise per share, compared with a loss of 96 paise 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 318,750 rupees, compared with a loss of 4.8 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 0.5% from negative 13.5% in the year-earlier period.

Total revenue climbed 67.6% year over year to 59.6 million rupees from 35.6 million rupees, and total operating expenses climbed 48.7% from the prior-year period to 58.1 million rupees from 39.1 million rupees.

Reported net income totaled a loss of 510,000 rupees, or a loss of 10 paise per share, compared to a loss of 7.7 million rupees, or a loss of 1.53 rupees per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.