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Saptarishi Agro Industries fiscal Q1 loss narrows YOY

Saptarishi Agro Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 2 Indian paise per share, compared with a loss of 3 paise 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 690,000 rupees, compared with a loss of 803,130 rupees in the year-earlier period.

The normalized profit margin was 192.2%.

Total revenue increased 80.4% year over year to 359,000 rupees from 199,000 rupees, and total operating expenses fell 20.2% on an annual basis to 1.5 million rupees from 1.9 million rupees.

Reported net income totaled a loss of 1.1 million rupees, or a loss of 3 paise per share, compared to a loss of 1.3 million rupees, or a loss of 4 paise per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to 63.80 Indian rupees.