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Cochin Malabar Estates & Industries fiscal Q1 loss narrows YOY

Cochin Malabar Estates & Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 36 Indian paise per share, compared with a loss of 3.79 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 636,880 rupees, compared with a loss of 5.6 million rupees in the prior-year period.

Reported net income came to 20.8 million rupees, or 11.72 rupees per share, compared to a loss of 9.0 million rupees, or a loss of 6.07 rupees per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.