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Telenav fiscal Q2 loss narrows YOY

Telenav Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to a loss of 11 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 18 cents per share.

The per-share loss narrowed 15.7% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.4 million, compared with a loss of $5.1 million in the prior-year period.

The normalized profit margin climbed to negative 9.7% from negative 12.7% in the year-earlier period.

Total revenue grew 13.8% year over year to $45.3 million from $39.8 million, and total operating expenses increased 8.7% year over year to $52.8 million from $48.6 million.

Reported net income came to a loss of $6.6 million, or a loss of 16 cents per share, compared to a loss of $2.8 million, or a loss of 7 cents per share, in the year-earlier period.