Universal Starch Chem Allied Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 3.02 Indian rupees per share, compared with 7.28 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 12.7 million rupees, compared with income of 30.6 million rupees in the year-earlier period.
The normalized profit margin dropped to negative 2.6% from 5.7% in the year-earlier period.
Total revenue fell 8.2% year over year to 490.5 million rupees from 534.2 million rupees, and total operating expenses increased 5.1% year over year to 498.0 million rupees from 473.9 million rupees.
Reported net income came to a loss of 14.8 million rupees, or a loss of 3.52 rupees per share, compared to income of 20.6 million rupees, or 4.90 rupees per share, in the prior-year period.
As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.
