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Supreme Tex Mart fiscal Q3 loss narrows YOY

Supreme Tex Mart Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 2.44 Indian rupees per share, compared with a loss of 3.29 rupees 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 166.3 million rupees, compared with a loss of 224.6 million rupees in the prior-year period.

The normalized profit margin rose to negative 18.3% from negative 27.6% in the year-earlier period.

Total revenue increased 11.8% year over year to 908.2 million rupees from 812.3 million rupees, and total operating expenses grew 13.9% year over year to 1.17 billion rupees from 1.03 billion rupees.

Reported net income came to a loss of 266.1 million rupees, or a loss of 3.90 rupees per share, compared to a loss of 171.5 million rupees, or a loss of 2.51 rupees per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.