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Abhishek Corp. fiscal Q3 loss widens 25.9% YOY

Abhishek Corp. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 9.20 Indian rupees per share, compared with a loss of 7.31 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 147.3 million rupees, compared with a loss of 117.0 million rupees in the prior-year period.

Total revenue rose 12.9% year over year to 23.3 million rupees from 20.6 million rupees, and total operating expenses grew 30.9% year over year to 97.6 million rupees from 74.6 million rupees.

Reported net income came to a loss of 235.6 million rupees, or a loss of 14.72 rupees per share, compared to a loss of 187.1 million rupees, or a loss of 11.69 rupees per share, in the year-earlier period.

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