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Khaitan Electricals fiscal Q3 loss widens YOY

Khaitan Electricals Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 9.28 Indian rupees per share, compared with a loss of 2.66 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 106.7 million rupees, compared with a loss of 30.6 million rupees in the year-earlier period.

The normalized profit margin declined to negative 13.2% from negative 2.5% in the year-earlier period.

Total revenue decreased 34.8% year over year to 807.6 million rupees from 1.24 billion rupees, and total operating expenses fell 25.4% from the prior-year period to 875.6 million rupees from 1.17 billion rupees.

Reported net income totaled a loss of 170.1 million rupees, or a loss of 14.79 rupees per share, compared to a loss of 50.4 million rupees, or a loss of 4.38 rupees per share, in the prior-year period.

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