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Pioneer Distilleries fiscal Q3 loss narrows YOY

Pioneer Distilleries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 74 Indian paise per share, compared with a loss of 4.92 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 9.9 million rupees, compared with a loss of 65.9 million rupees in the prior-year period.

The normalized profit margin rose to negative 2.4% from negative 22.3% in the year-earlier period.

Total revenue climbed 37.3% year over year to 406.4 million rupees from 296.0 million rupees, and total operating expenses rose 10.7% year over year to 377.9 million rupees from 341.5 million rupees.

Reported net income totaled a loss of 15.9 million rupees, or a loss of 1.18 rupees per share, compared to a loss of 105.4 million rupees, or a loss of 7.88 rupees per share, in the prior-year period.

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