Sambandam Spinning Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 5.84 Indian rupees per share, compared with 1.97 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 24.9 million rupees, compared with income of 8.4 million rupees in the year-earlier period.
The normalized profit margin declined to negative 4.3% from 1.3% in the year-earlier period.
Total revenue declined 13.6% year over year to 578.5 million rupees from 669.3 million rupees, and total operating expenses declined 4.9% year over year to 593.7 million rupees from 624.3 million rupees.
Reported net income came to a loss of 25.9 million rupees, or a loss of 6.06 rupees per share, compared to income of 8.4 million rupees, or 1.98 rupees per share, in the prior-year period.
As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.
