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TT Ltd. fiscal Q2 loss narrows YOY

T.T. Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 28 Indian paise per share, compared with a loss of 1.95 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 6.1 million rupees, compared with a loss of 41.9 million rupees in the prior-year period.

The normalized profit margin rose to negative 0.3% from negative 2.6% in the year-earlier period.

Total revenue climbed 25.0% year over year to 2.00 billion rupees from 1.60 billion rupees, and total operating expenses climbed 21.7% from the prior-year period to 1.91 billion rupees from 1.57 billion rupees.

Reported net income came to a loss of 4.6 million rupees, or a loss of 21 paise per share, compared to a loss of 47.1 million rupees, or a loss of 2.19 rupees per share, in the prior-year period.

As of Oct. 21, US$1 was equivalent to 65.20 Indian rupees.