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Hindustan Foods fiscal Q3 loss widens 27.1% YOY

Hindustan Foods Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 64 Indian paise per share, compared with a loss of 51 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 3.2 million rupees, compared with a loss of 2.5 million rupees in the year-earlier period.

The normalized profit margin rose to negative 16.8% from negative 25.2% in the year-earlier period.

Total revenue grew 90.6% year over year to 19.1 million rupees from 10.0 million rupees, and total operating expenses rose 82.8% year over year to 20.2 million rupees from 11.1 million rupees.

Reported net income totaled a loss of 5.1 million rupees, or a loss of 1.03 rupees per share, compared to a loss of 4.0 million rupees, or a loss of 81 paise per share, in the prior-year period.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.