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Sir Shadi Lal Enterprises fiscal Q2 loss narrows YOY

Sir Shadi Lal Enterprises Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 6.59 Indian rupees per share, compared with a loss of 25.32 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 34.6 million rupees, compared with a loss of 132.9 million rupees in the prior-year period.

The normalized profit margin climbed to negative 2.9% from negative 13.1% in the year-earlier period.

Total revenue increased 17.2% on an annual basis to 1.19 billion rupees from 1.01 billion rupees, and total operating expenses climbed year over year to 1.18 billion rupees from 1.15 billion rupees.

Reported net income came to a loss of 55.4 million rupees, or a loss of 10.55 rupees per share, compared to a loss of 212.7 million rupees, or a loss of 40.51 rupees per share, in the prior-year period.

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