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STL Global fiscal Q3 loss widens 58.2% YOY

STL Global Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 2.53 Indian rupees per share, compared with a loss of 1.60 rupees 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 68.4 million rupees, compared with a loss of 43.2 million rupees in the prior-year period.

The normalized profit margin fell to negative 41.2% from negative 21.2% in the year-earlier period.

Total revenue fell 18.6% on an annual basis to 166.0 million rupees from 204.0 million rupees, and total operating expenses decreased from the prior-year period to 208.2 million rupees from 214.7 million rupees.

Reported net income came to a loss of 109.5 million rupees, or a loss of 4.06 rupees per share, compared to a loss of 69.2 million rupees, or a loss of 2.56 rupees per share, in the year-earlier period.

As of Jan. 19, US$1 was equivalent to 61.63 Indian rupees.