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Layla Textile fiscal Q1 loss widens YOY

Layla Textile & Traders Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 258,750 rupees, compared with a loss of 2,930 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 7.3% from negative 167.2% in the year-earlier period.

Total revenue climbed on an annual basis to 3.6 million rupees from 1,750 rupees, and total operating expenses grew on an annual basis to 3.5 million rupees from 6,430 rupees.

Reported net income came to a loss of 414,000 rupees, or a loss of 2 paise per share, compared to a loss of 4,680 rupees in the year-earlier period.

As of July 28, US$1 was equivalent to 60.09 Indian rupees.