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Gayatri Sugars fiscal Q1 loss widens 26.6% YOY

Gayatri Sugars Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 2.29 Indian rupees per share, compared with a loss of 1.83 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 99.1 million rupees, compared with a loss of 78.3 million rupees in the year-earlier period.

The normalized profit margin rose to negative 11.6% from negative 12.5% in the year-earlier period.

Total revenue grew 36.1% year over year to 855.0 million rupees from 628.1 million rupees, and total operating expenses rose 36.7% from the prior-year period to 958.2 million rupees from 700.8 million rupees.

Reported net income totaled a loss of 234.1 million rupees, or a loss of 5.42 rupees per share, compared to a loss of 125.2 million rupees, or a loss of 2.93 rupees per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.