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STI India fiscal Q2 loss widens 12.8% YOY

4914890 said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 30 Indian paise per share, compared with a loss of 27 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 8.7 million rupees, compared with a loss of 7.7 million rupees in the prior-year period.

The normalized profit margin dropped to negative 6.0% from negative 4.8% in the year-earlier period.

Total revenue declined 9.6% on an annual basis to 145.3 million rupees from 160.7 million rupees, and total operating expenses fell 8.3% year over year to 160.4 million rupees from 174.9 million rupees.

eported net income totaled a loss of 12.3 million rupees, STI India Ltd..