Eastern Silk Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 23 Indian paise per share, compared with a loss of 1.06 rupees 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 18.5 million rupees, compared with a loss of 83.5 million rupees in the year-earlier period.
The normalized profit margin increased to negative 12.2% from negative 37.4% in the year-earlier period.
Total revenue declined 32.3% year over year to 151.3 million rupees from 223.5 million rupees, and total operating expenses fell 29.1% from the prior-year period to 177.7 million rupees from 250.7 million rupees.
Reported net income came to a loss of 29.6 million rupees, or a loss of 37 paise per share, compared to a loss of 133.6 million rupees, or a loss of 1.69 rupees per share, in the year-earlier period.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
