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K-Lifestyle & Industries fiscal Q1 loss widens YOY

K-Lifestyle & Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 39 Indian paise per share, compared with a loss of 14 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 400.5 million rupees, compared with a loss of 147.8 million rupees in the prior-year period.

The normalized profit margin fell to negative 21.9% from negative 13.2% in the year-earlier period.

Total revenue climbed 63.3% year over year to 1.83 billion rupees from 1.12 billion rupees, and total operating expenses rose 87.8% year over year to 2.38 billion rupees from 1.27 billion rupees.

Reported net income totaled a loss of 640.8 million rupees, or a loss of 63 paise per share, compared to a loss of 236.5 million rupees, or a loss of 23 paise per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.