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Sir Shadi Lal Enterprises fiscal Q1 loss narrows YOY

Sir Shadi Lal Enterprises Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 4.19 Indian rupees per share, compared with a loss of 20.59 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 22.0 million rupees, compared with a loss of 108.1 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 2.1% from negative 11.5% in the year-earlier period.

Total revenue climbed 11.6% year over year to 1.05 billion rupees from 939.6 million rupees, and total operating expenses totaled 1.03 billion rupees, compared with 1.03 billion rupees in the year-earlier period.

Reported net income came to a loss of 35.2 million rupees, or a loss of 6.70 rupees per share, compared to a loss of 172.9 million rupees, or a loss of 32.94 rupees per share, in the year-earlier period.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.