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LML Ltd. fiscal Q1 loss narrows YOY

LML Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 1.59 Indian rupees per share, compared with a loss of 1.73 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 130.2 million rupees, compared with a loss of 141.8 million rupees in the prior-year period.

The normalized profit margin climbed to negative 25.6% from negative 29.0% in the year-earlier period.

Total revenue grew on an annual basis to 508.1 million rupees from 488.5 million rupees, and total operating expenses totaled 612.0 million rupees, compared with 618.0 million rupees in the year-earlier period.

Reported net income came to a loss of 208.4 million rupees, or a loss of 2.54 rupees per share, compared to a loss of 226.9 million rupees, or a loss of 2.77 rupees per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.