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Educomp Solutions fiscal Q3 loss narrows YOY

Educomp Solutions Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 3.43 Indian rupees per share, compared with a loss of 3.73 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 419.5 million rupees, compared with a loss of 456.0 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 33.7% from negative 29.4% in the year-earlier period.

Total revenue fell 19.8% year over year to 1.25 billion rupees from 1.55 billion rupees, and total operating expenses decreased 18.0% on an annual basis to 1.38 billion rupees from 1.68 billion rupees.

Reported net income totaled a loss of 5.78 billion rupees, or a loss of 47.20 rupees per share, compared to a loss of 860.2 million rupees, or a loss of 7.03 rupees per share, in the prior-year period.

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