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Saptarishi Agro Industries fiscal Q3 loss narrows YOY

Saptarishi Agro Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 2 Indian paise per share, compared with a loss of 3 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 708,130 rupees, compared with a loss of 883,130 rupees in the year-earlier period.

Total revenue grew on an annual basis to 198,000 rupees from 59,000 rupees, and total operating expenses fell 18.3% year over year to 1.7 million rupees from 2.1 million rupees.

Reported net income came to a loss of 1.1 million rupees, or a loss of 3 paise per share, compared to a loss of 1.4 million rupees, or a loss of 4 paise per share, in the prior-year period.

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