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Freshtrop Fruits fiscal Q3 loss widens 25.2% YOY

Freshtrop Fruits Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 78 Indian paise per share, compared with a loss of 62 paise 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 9.4 million rupees, compared with a loss of 7.5 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 12.7% from negative 14.1% in the year-earlier period.

Total revenue climbed 39.1% year over year to 74.1 million rupees from 53.3 million rupees, and total operating expenses rose 39.7% from the prior-year period to 89.3 million rupees from 63.9 million rupees.

Reported net income totaled a loss of 10.3 million rupees, or a loss of 85 paise per share, compared to a loss of 7.9 million rupees, or a loss of 65 paise per share, in the prior-year period.

As of Jan. 27, US$1 was equivalent to 68.10 Indian rupees.