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Simbhaoli Sugars fiscal Q3 loss widens YOY

Simbhaoli Sugars Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 13.24 Indian rupees per share, compared with a loss of 13.04 rupees 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 369.4 million rupees, compared with a loss of 364.1 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 13.6% from negative 24.1% in the year-earlier period.

Total revenue increased 79.5% on an annual basis to 2.71 billion rupees from 1.51 billion rupees, and total operating expenses rose 61.8% from the prior-year period to 2.99 billion rupees from 1.85 billion rupees.

Reported net income totaled a loss of 672.0 million rupees, or a loss of 24.08 rupees per share, compared to a loss of 654.8 million rupees, or a loss of 23.46 rupees per share, in the prior-year period.

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