Soma Textiles & Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 1.73 Indian rupees per share, compared with a loss of 2.51 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 56.9 million rupees, compared with a loss of 83.0 million rupees in the year-earlier period.
The normalized profit margin rose to negative 13.1% from negative 14.2% in the year-earlier period.
Total revenue decreased 25.9% year over year to 433.8 million rupees from 585.6 million rupees, and total operating expenses decreased 29.9% on an annual basis to 470.5 million rupees from 671.1 million rupees.
Reported net income totaled a loss of 71.6 million rupees, or a loss of 2.17 rupees per share, compared to a loss of 145.5 million rupees, or a loss of 4.40 rupees per share, in the prior-year period.
As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.
