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Ravalgaon Sugar Farm fiscal Q3 loss narrows YOY

The Ravalgaon Sugar Farm Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 147.30 Indian rupees per share, compared with a loss of 326.42 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 10.0 million rupees, compared with a loss of 22.2 million rupees in the year-earlier period.

The normalized profit margin increased to negative 9.1% from negative 31.2% in the year-earlier period.

Total revenue climbed 54.1% on an annual basis to 109.6 million rupees from 71.1 million rupees, and total operating expenses climbed 40.6% from the prior-year period to 132.2 million rupees from 94.0 million rupees.

Reported net income totaled a loss of 16.1 million rupees, or a loss of 237.01 rupees per share, compared to a loss of 36.2 million rupees, or a loss of 531.94 rupees per share, in the year-earlier period.

As of Jan. 15, US$1 was equivalent to 61.77 Indian rupees.