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TCI Industries fiscal Q1 loss narrows YOY

TCI Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 96 Indian paise per share, compared with a loss of 1.92 rupees 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 858,130 rupees, compared with a loss of 1.2 million rupees in the prior-year period.

The normalized profit margin climbed to negative 14.8% from negative 73.4% in the year-earlier period.

Total revenue climbed year over year to 5.8 million rupees from 1.6 million rupees, and total operating expenses rose from the prior-year period to 7.5 million rupees from 3.7 million rupees.

Reported net income came to a loss of 1.4 million rupees, or a loss of 1.53 rupees per share, compared to a loss of 2.3 million rupees, or a loss of 3.79 rupees per share, in the year-earlier period.

As of July 23, US$1 was equivalent to 59.95 Indian rupees.