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Cochin Malabar Estates & Industries fiscal Q3 loss narrows YOY

Cochin Malabar Estates & Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 18 Indian paise per share, compared with a loss of 69 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 315,000 rupees, compared with a loss of 1.2 million rupees in the year-earlier period.

Reported net income came to a loss of 504,000 rupees, or a loss of 28 paise per share, compared to income of 532.4 million rupees, or 300.47 rupees per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.