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TCI Industries fiscal Q2 loss narrows YOY

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TCI Industries fiscal Q2 loss narrows YOY

TCI Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 61 Indian paise per share, compared with a loss of 1.38 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 545,630 rupees, compared with a loss of 1.2 million rupees in the prior-year period.

The normalized profit margin was 3.4%.

Total revenue totaled 16.2 million rupees, and total operating expenses climbed on an annual basis to 17.6 million rupees from 2.3 million rupees.

Reported net income came to a loss of 873,000 rupees, or a loss of 97 paise per share, compared to a loss of 2.0 million rupees, or a loss of 2.21 rupees per share, in the year-earlier period.

As of Oct. 16, US$1 was equivalent to 64.73 Indian rupees.