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Nahar Spinning Mills swings to loss in fiscal Q1

4912378 said its normalized net income for the fiscal first quarter ended June 30 was a loss of 3.01 Indian rupees per share, compared with 7.32 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 108.6 million rupees, compared with income of 264.1 million rupees in the year-earlier period.

The normalized profit margin fell to negative 2.1% from 5.1% in the year-earlier period.

Total revenue climbed on an annual basis to 5.27 billion rupees from 5.22 billion rupees, and total operating expenses grew 14.2% from the prior-year period to 5.22 billion rupees from 4.57 billion rupees.

eported net income totaled a loss of 114.7 million rupees, Nahar Spinning Mills Ltd.