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Alps Industries fiscal Q1 loss narrows YOY

Alps Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 30.3 million rupees, compared with a loss of 233.5 million 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 2.0% from negative 15.6% in the year-earlier period.

Total revenue came to 1.51 billion rupees, compared with 1.50 billion rupees in the prior-year period, and total operating expenses increased from the prior-year period to 1.62 billion rupees from 1.58 billion rupees.

Reported net income came to a loss of 48.4 million rupees, compared with a loss of 373.6 million rupees in the year-earlier period.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.