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Eurotex Industries & Exports fiscal Q3 loss widens 9.5% YOY

Eurotex Industries and Exports Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 59 Indian paise per share, compared with a loss of 54 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 5.2 million rupees, compared with a loss of 4.8 million rupees in the prior-year period.

The normalized profit margin fell to negative 1.0% from negative 0.7% in the year-earlier period.

Total revenue declined 23.7% on an annual basis to 545.3 million rupees from 714.7 million rupees, and total operating expenses declined 22.3% on an annual basis to 545.3 million rupees from 701.4 million rupees.

Reported net income totaled a loss of 6.6 million rupees, or a loss of 75 paise per share, compared to a loss of 7.4 million rupees, or a loss of 85 paise per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.