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Hipolin fiscal Q3 loss narrows YOY

Hipolin Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 145,000 rupees, compared with a loss of 564,380 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 climbed to negative 0.3% from negative 0.8% in the year-earlier period.

Total revenue fell 34.7% year over year to 46.6 million rupees from 71.3 million rupees, and total operating expenses decreased 35.9% from the prior-year period to 47.7 million rupees from 74.4 million rupees.

Reported net income came to a loss of 232,000 rupees, compared with a loss of 903,000 rupees in the year-earlier period.

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