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Calcom Vision swings to loss in fiscal Q2

Calcom Vision Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 45 Indian paise per share, compared with 5 paise 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 1.5 million rupees, compared with income of 168,750 rupees in the year-earlier period.

The normalized profit margin dropped to negative 8.0% from 0.5% in the year-earlier period.

Total revenue fell 49.7% on an annual basis to 18.8 million rupees from 37.3 million rupees, and total operating expenses decreased 43.0% year over year to 21.0 million rupees from 36.9 million rupees.

Reported net income totaled a loss of 600,000 rupees, or a loss of 18 paise per share, compared to income of 270,000 rupees, or 8 paise per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.