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Ajwa Fun World & Resort fiscal Q2 loss narrows YOY

Ajwa Fun World & Resort Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 31 Indian paise per share, compared with a loss of 34 paise 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 2.0 million rupees, compared with a loss of 2.1 million rupees in the year-earlier period.

The normalized profit margin increased to negative 34.7% from negative 40.9% in the year-earlier period.

Total revenue increased 9.0% on an annual basis to 5.7 million rupees from 5.2 million rupees, and total operating expenses rose from the prior-year period to 8.9 million rupees from 8.7 million rupees.

Reported net income came to a loss of 3.2 million rupees, or a loss of 50 paise per share, compared to a loss of 3.4 million rupees, or a loss of 54 paise per share, in the year-earlier period.

As of Oct. 15, US$1 was equivalent to 64.78 Indian rupees.