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EESL fiscal Q2 loss narrows YOY

Emergent Global Edu & Services Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 43 Indian paise per share, compared with a loss of 51 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 2.0 million rupees, compared with a loss of 2.3 million rupees in the prior-year period.

Total revenue fell on an annual basis to 48,000 rupees from 50,000 rupees, and total operating expenses decreased 19.5% year over year to 3.2 million rupees from 4.0 million rupees.

Reported net income totaled a loss of 3.1 million rupees, or a loss of 69 paise per share, compared to a loss of 3.7 million rupees, or a loss of 81 paise per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.