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Industria Textil Piura Q1 loss narrows YOY

Industria Textil Piura SA said its normalized net income for the first quarter amounted to a loss of 5 Peruvian céntimos per share, compared with a loss of 5 céntimos 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 3.1 million soles, compared with a loss of 3.7 million soles in the prior-year period.

The normalized profit margin dropped to negative 16.7% from negative 16.2% in the year-earlier period.

Total revenue decreased 17.1% year over year to 18.9 million soles from 22.7 million soles, and total operating expenses grew from the prior-year period to 22.5 million soles from 22.1 million soles.

Reported net income totaled a loss of 5.0 million soles, or a loss of 7 céntimos per share, compared to a loss of 2.9 million soles, or a loss of 4 céntimos per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 3.27 soles.