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AUNDE India swings to loss in fiscal Q2

AUNDE India Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 16 Indian paise per share, compared with 87 paise 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 1.7 million rupees, compared with income of 9.3 million rupees in the prior-year period.

The normalized profit margin dropped to negative 0.6% from 3.3% in the year-earlier period.

Total revenue declined on an annual basis to 273.4 million rupees from 281.4 million rupees, and total operating expenses rose on an annual basis to 256.6 million rupees from 246.3 million rupees.

Reported net income came to a loss of 2.7 million rupees, or a loss of 26 paise per share, compared to income of 11.9 million rupees, or 1.11 rupees per share, in the year-earlier period.

As of Feb. 26, US$1 was equivalent to 61.76 Indian rupees.