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Uniroyal Marine Exports fiscal Q1 loss narrows YOY

Uniroyal Marine Exports Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 16 Indian paise per share, compared with a loss of 25 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 1.0 million rupees, compared with a loss of 1.6 million rupees in the year-earlier period.

The normalized profit margin increased to negative 1.4% from negative 2.2% in the year-earlier period.

Total revenue grew year over year to 73.0 million rupees from 71.7 million rupees, and total operating expenses declined from the prior-year period to 70.7 million rupees from 71.7 million rupees.

Reported net income came to a loss of 1.6 million rupees, or a loss of 25 paise per share, compared to a loss of 2.6 million rupees, or a loss of 40 paise per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.