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Ajwa Fun World & Resort fiscal Q3 loss narrows YOY

Ajwa Fun World & Resort Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 2,500 rupees, compared with a loss of 1.3 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 0.0% from negative 16.7% in the year-earlier period.

Total revenue climbed 37.1% year over year to 10.8 million rupees from 7.8 million rupees, and total operating expenses climbed 8.1% on an annual basis to 10.8 million rupees from 10.0 million rupees.

Reported net income came to a loss of 4,000 rupees, or a loss of 0 paise per share, compared to a loss of 2.1 million rupees, or a loss of 33 paise per share, in the prior-year period.

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