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Goodricke Group Q2 loss narrows YOY

Goodricke Group Ltd. said its normalized net income for the second quarter amounted to a loss of 47 Indian paise per share, compared with a loss of 1.52 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 7.9 million rupees, compared with a loss of 32.8 million rupees in the prior-year period.

The normalized profit margin rose to negative 0.8% from negative 3.4% in the year-earlier period.

Total revenue climbed 5.5% on an annual basis to 1.02 billion rupees from 970.0 million rupees, and total operating expenses increased year over year to 1.06 billion rupees from 1.04 billion rupees.

Reported net income totaled a loss of 12.6 million rupees, or a loss of 75 paise per share, compared to a loss of 52.5 million rupees, or a loss of 2.43 rupees per share, in the prior-year period.

As of Aug. 6, US$1 was equivalent to 63.70 Indian rupees.