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Shree Rajasthan Syntex fiscal Q3 loss narrows YOY

Shree Rajasthan Syntex Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of 1.03 Indian rupees per share, compared with a loss of 1.15 rupees 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 12.8 million rupees, compared with a loss of 14.3 million rupees in the prior-year period.

The normalized profit margin fell to negative 1.9% from negative 1.9% in the year-earlier period.

Total revenue fell 11.0% on an annual basis to 672.8 million rupees from 756.2 million rupees, and total operating expenses decreased 9.5% year over year to 672.3 million rupees from 742.9 million rupees.

Reported net income totaled a loss of 14.0 million rupees, or a loss of 1.13 rupees per share, compared to a loss of 12.3 million rupees, or a loss of 99 paise per share, in the prior-year period.

As of Feb. 11, US$1 was equivalent to 68.37 Indian rupees.