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Photoquip India swings to loss in fiscal Q2

Photoquip India Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 12 Indian paise per share, compared with 1.81 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 548,750 rupees, compared with income of 8.7 million rupees in the year-earlier period.

The normalized profit margin declined to negative 0.2% from 4.6% in the year-earlier period.

Total revenue increased 27.5% year over year to 241.3 million rupees from 189.3 million rupees, and total operating expenses rose 38.5% on an annual basis to 237.9 million rupees from 171.8 million rupees.

Reported net income fell 96.9% year over year to 268,000 rupees, or 6 paise per share, from 8.8 million rupees, or 1.82 rupees per share.

As of Nov. 19, US$1 was equivalent to 62.02 Indian rupees.