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Dhanada fiscal Q3 loss widens YOY

Dhanada Corp. Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 1.9 million rupees, compared with a loss of 128,130 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 7.9% from negative 0.5% in the year-earlier period.

Total revenue declined 12.9% on an annual basis to 24.5 million rupees from 28.1 million rupees, and total operating expenses declined 16.6% year over year to 21.6 million rupees from 25.9 million rupees.

Reported net income totaled a loss of 3.3 million rupees, or a loss of 6 paise per share, compared to a loss of 559,710 rupees, or a loss of 1 paise per share, in the year-earlier period.

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