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GTN Industries fiscal Q1 loss narrows YOY

GTN Industries Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 83 Indian paise per share, compared with a loss of 1.91 rupees 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 13.0 million rupees, compared with a loss of 33.5 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 1.2% from negative 3.2% in the year-earlier period.

Total revenue climbed 6.8% on an annual basis to 1.11 billion rupees from 1.04 billion rupees, and total operating expenses climbed from the prior-year period to 1.08 billion rupees from 1.05 billion rupees.

Reported net income totaled a loss of 20.8 million rupees, or a loss of 1.32 rupees per share, compared to a loss of 53.6 million rupees, or a loss of 3.06 rupees per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.