Sri Ramakrishna Mills (Coimbatore) Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 94 Indian paise per share, compared with a loss of 18 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 6.7 million rupees, compared with a loss of 1.3 million rupees in the year-earlier period.
The normalized profit margin fell to negative 23.2% from negative 4.1% in the year-earlier period.
Total revenue declined 5.2% year over year to 29.0 million rupees from 30.6 million rupees, and total operating expenses rose 11.0% year over year to 34.0 million rupees from 30.6 million rupees.
Reported net income came to a loss of 10.7 million rupees, or a loss of 1.51 rupees per share, compared to a loss of 2.0 million rupees, or a loss of 28 paise per share, in the prior-year period.
As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.
