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Machino Plastics fiscal Q3 loss narrows YOY

Machino Plastics Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 1.48 Indian rupees per share, compared with a loss of 4.24 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 9.1 million rupees, compared with a loss of 26.0 million rupees in the prior-year period.

The normalized profit margin climbed to negative 2.0% from negative 6.6% in the year-earlier period.

Total revenue climbed 18.3% year over year to 463.6 million rupees from 391.8 million rupees, and total operating expenses rose 10.4% on an annual basis to 464.3 million rupees from 420.7 million rupees.

Reported net income came to a loss of 14.6 million rupees, or a loss of 2.37 rupees per share, compared to a loss of 41.6 million rupees, or a loss of 6.78 rupees per share, in the prior-year period.

As of Feb. 9, US$1 was equivalent to 62.14 Indian rupees.