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Rasandik Engineering Industries India fiscal Q3 loss narrows YOY

Rasandik Engineering Industries India Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 37 Indian paise per share, compared with a loss of 6.23 rupees 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 1.7 million rupees, compared with a loss of 29.4 million rupees in the year-earlier period.

The normalized profit margin increased to negative 0.3% from negative 6.5% in the year-earlier period.

Total revenue climbed 15.9% on an annual basis to 527.9 million rupees from 455.7 million rupees, and total operating expenses rose 7.1% on an annual basis to 498.4 million rupees from 465.5 million rupees.

Reported net income totaled a loss of 2.8 million rupees, or a loss of 59 paise per share, compared to a loss of 46.0 million rupees, or a loss of 9.74 rupees per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.