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Sundaram Brake Linings fiscal Q1 loss widens YOY

Sundaram Brake Linings Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 9.13 Indian rupees per share, compared with a loss of 4.43 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 35.9 million rupees, compared with a loss of 17.4 million rupees in the prior-year period.

The normalized profit margin declined to negative 6.4% from negative 3.0% in the year-earlier period.

Total revenue fell 5.3% on an annual basis to 558.2 million rupees from 589.4 million rupees, and total operating expenses came to 607.7 million rupees, compared with 611.2 million rupees in the year-earlier period.

Reported net income totaled a loss of 57.5 million rupees, or a loss of 14.60 rupees per share, compared to a loss of 27.9 million rupees, or a loss of 7.09 rupees per share, in the prior-year period.

As of Aug. 1, US$1 was equivalent to 60.84 Indian rupees.