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Sampre Nutritions swings to loss in fiscal Q1

Sampre Nutritions Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 34 Indian paise per share, compared with 30 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 1.7 million rupees, compared with income of 1.5 million rupees in the prior-year period.

The normalized profit margin fell to negative 8.6% from 4.5% in the year-earlier period.

Total revenue fell 41.0% on an annual basis to 19.3 million rupees from 32.8 million rupees, and total operating expenses declined 27.4% on an annual basis to 22.1 million rupees from 30.4 million rupees.

Reported net income totaled a loss of 2.7 million rupees, or a loss of 55 paise per share, compared to income of 2.4 million rupees, or 48 paise per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.