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SJ Corp. swings to loss in fiscal Q3

SJ Corp. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 15 Indian paise per share, compared with 10 paise 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 1.3 million rupees, compared with income of 895,630 rupees in the year-earlier period.

The normalized profit margin declined to negative 1.2% from 0.9% in the year-earlier period.

Total revenue climbed 7.3% year over year to 101.1 million rupees from 94.3 million rupees, and total operating expenses climbed 10.9% on an annual basis to 102.2 million rupees from 92.1 million rupees.

Reported net income came to a loss of 2.0 million rupees, or a loss of 24 paise per share, compared to income of 1.2 million rupees, or 14 paise per share, in the prior-year period.

As of Jan. 22, US$1 was equivalent to 67.58 Indian rupees.