Welspun Investments & Commercials Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 4 Indian paise per share, compared with a loss of 4 paise 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 136,250 rupees, compared with a loss of 156,250 rupees in the prior-year period.
The normalized profit margin fell to negative 3.5% from negative 1.9% in the year-earlier period.
Total revenue declined 51.3% on an annual basis to 3.9 million rupees from 8.1 million rupees, and total operating expenses fell 50.1% from the prior-year period to 4.1 million rupees from 8.3 million rupees.
Reported net income came to a loss of 218,000 rupees, or a loss of 6 paise per share, compared to a loss of 250,000 rupees, or a loss of 7 paise per share, in the year-earlier period.
As of Jan. 28, US$1 was equivalent to 61.32 Indian rupees.
