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Khaitan Electricals fiscal Q1 loss widens 27.3% YOY

Khaitan Electricals Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 5.40 Indian rupees per share, compared with a loss of 4.24 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 62.1 million rupees, compared with a loss of 48.8 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 7.4% from negative 4.0% in the year-earlier period.

Total revenue fell 32.4% on an annual basis to 833.4 million rupees from 1.23 billion rupees, and total operating expenses fell 30.1% from the prior-year period to 854.5 million rupees from 1.22 billion rupees.

Reported net income totaled a loss of 99.3 million rupees, or a loss of 8.64 rupees per share, compared to a loss of 78.9 million rupees, or a loss of 6.86 rupees per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.