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RCL Foods swings to loss in fiscal Q2

RCL Foods Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 10 Indian paise per share, compared with 5 paise 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 443,750 rupees, compared with income of 212,500 rupees in the year-earlier period.

The normalized profit margin fell to negative 15.0% from 7.2% in the year-earlier period.

Total revenue came to 3.0 million rupees, compared with 3.0 million rupees in the year-earlier period, and total operating expenses grew on an annual basis to 3.7 million rupees from 1.8 million rupees.

Reported net income came to a loss of 710,000 rupees, or a loss of 16 paise per share, compared to income of 340,000 rupees, or 8 paise per share, in the year-earlier period.

As of Dec. 2, US$1 was equivalent to 61.84 Indian rupees.