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Khaitan (India) fiscal Q3 loss widens YOY

Khaitan (India) Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 2.58 Indian rupees per share, compared with a loss of 87 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 12.2 million rupees, compared with a loss of 4.1 million rupees in the year-earlier period.

The normalized profit margin fell to negative 28.9% from negative 8.3% in the year-earlier period.

Total revenue declined 15.1% on an annual basis to 42.4 million rupees from 49.9 million rupees, and total operating expenses increased 15.0% on an annual basis to 53.2 million rupees from 46.3 million rupees.

Reported net income came to a loss of 19.6 million rupees, or a loss of 4.12 rupees per share, compared to a loss of 6.6 million rupees, or a loss of 1.39 rupees per share, in the prior-year period.

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