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ADF Foods fiscal Q3 loss narrows YOY

ADF Foods Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 13 Indian paise per share, compared with a loss of 30 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 2.5 million rupees, compared with a loss of 5.3 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 0.6% from negative 1.3% in the year-earlier period.

Total revenue rose 6.6% on an annual basis to 437.5 million rupees from 410.3 million rupees, and total operating expenses increased 7.9% on an annual basis to 452.5 million rupees from 419.5 million rupees.

Reported net income came to a loss of 4.4 million rupees, or a loss of 22 paise per share, compared to a loss of 9.3 million rupees, or a loss of 53 paise per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.