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RCL Foods fiscal Q3 loss narrows YOY

RCL Foods Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 7 Indian paise per share, compared with a loss of 71 paise 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 306,250 rupees, compared with a loss of 3.2 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 8.0% from negative 113.4% in the year-earlier period.

Total revenue grew 34.0% on an annual basis to 3.8 million rupees from 2.9 million rupees, and total operating expenses climbed from the prior-year period to 3.4 million rupees from 1.4 million rupees.

Reported net income came to a loss of 490,000 rupees, or a loss of 11 paise per share, compared to a loss of 5.2 million rupees, or a loss of 1.14 rupees per share, in the prior-year period.

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