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Autoline Industries fiscal Q3 loss narrows YOY

Autoline Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of 6.73 Indian rupees per share, compared with a loss of 9.51 rupees 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 83.5 million rupees, compared with a loss of 116.8 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 11.3% from negative 12.5% in the year-earlier period.

Total revenue declined 20.6% on an annual basis to 739.4 million rupees from 931.3 million rupees, and total operating expenses declined 22.6% from the prior-year period to 804.5 million rupees from 1.04 billion rupees.

Reported net income totaled a loss of 133.8 million rupees, or a loss of 10.78 rupees per share, compared to a loss of 187.0 million rupees, or a loss of 15.22 rupees per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.