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Educomp Solutions fiscal Q1 loss narrows YOY

Educomp Solutions Ltd said its normalized net income for the fiscal first quarter ended June 30 was a loss of 3.63 Indian rupees per share, compared with a loss of 4.89 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 444.5 million rupees, compared with a loss of 598.8 million rupees in the prior-year period.

The normalized profit margin climbed to negative 31.0% from negative 41.7% in the year-earlier period.

Total revenue totaled 1.43 billion rupees, compared with 1.44 billion rupees in the prior-year period, and total operating expenses declined from the prior-year period to 1.51 billion rupees from 1.55 billion rupees.

Reported net income totaled a loss of 852.6 million rupees, or a loss of 6.96 rupees per share, compared to a loss of 3.44 billion rupees, or a loss of 28.08 rupees per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.