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Kothari Fermentation & Biochem fiscal Q1 loss widens YOY

Kothari Fermentation & Biochem Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 2.6 million rupees, compared with a loss of 29,380 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 declined to negative 2.0% from negative 0.0% in the year-earlier period.

Total revenue rose 37.8% on an annual basis to 131.8 million rupees from 95.6 million rupees, and total operating expenses climbed 41.5% year over year to 131.2 million rupees from 92.7 million rupees.

Reported net income totaled a loss of 2.7 million rupees, or a loss of 18 paise per share, compared to a loss of 82,000 rupees, or a loss of 1 paise per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.