trending Market Intelligence /marketintelligence/en/news-insights/trending/tnlpibagVUx0T-b0BOSJ5Q2 content esgSubNav
In This List

Riga Sugar fiscal Q1 loss narrows YOY

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Riga Sugar fiscal Q1 loss narrows YOY

Riga Sugar Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 1.24 Indian rupees per share, compared with a loss of 1.86 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 13.2 million rupees, compared with a loss of 18.4 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 3.6% from negative 3.7% in the year-earlier period.

Total revenue decreased 26.9% year over year to 363.0 million rupees from 496.4 million rupees, and total operating expenses declined 29.4% on an annual basis to 345.3 million rupees from 489.4 million rupees.

Reported net income totaled a loss of 21.2 million rupees, or a loss of 1.99 rupees per share, compared to a loss of 29.5 million rupees, or a loss of 2.98 rupees per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.