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Khaitan (India) fiscal Q1 loss widens 72.6% YOY

Khaitan (India) Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 1.53 Indian rupees per share, compared with a loss of 89 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 7.3 million rupees, compared with a loss of 4.2 million rupees in the prior-year period.

The normalized profit margin fell to negative 11.4% from negative 7.3% in the year-earlier period.

Total revenue increased 9.7% year over year to 63.7 million rupees from 58.1 million rupees, and total operating expenses climbed 15.3% on an annual basis to 64.6 million rupees from 56.1 million rupees.

Reported net income came to a loss of 11.6 million rupees, or a loss of 2.45 rupees per share, compared to a loss of 6.7 million rupees, or a loss of 1.42 rupees per share, in the prior-year period.

As of Aug. 20, US$1 was equivalent to 60.61 Indian rupees.