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Tricom Fruit Products fiscal Q3 loss narrows YOY

Tricom Fruit Products Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 84 Indian paise per share, compared with a loss of 1.56 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 14.3 million rupees, compared with a loss of 24.8 million rupees in the prior-year period.

Total revenue increased on an annual basis to 699,000 rupees from 90,000 rupees, and total operating expenses declined 58.5% year over year to 9.1 million rupees from 22.0 million rupees.

Reported net income totaled a loss of 22.9 million rupees, or a loss of 1.34 rupees per share, compared to a loss of 39.6 million rupees, or a loss of 2.49 rupees per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.