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Atlas Jewellery India fiscal Q3 loss widens 43.3% YOY

Atlas Jewellery India Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 10 Indian paise per share, compared with a loss of 7 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 10.5 million rupees, compared with a loss of 7.3 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 47.8% from negative 43.5% in the year-earlier period.

Total revenue grew 30.5% year over year to 21.9 million rupees from 16.8 million rupees, and total operating expenses grew 58.8% on an annual basis to 50.6 million rupees from 31.9 million rupees.

Reported net income came to a loss of 12.8 million rupees, or a loss of 12 paise per share, compared to a loss of 15.3 million rupees, or a loss of 15 paise per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.