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Longview Tea fiscal Q2 loss narrows YOY

Longview Tea Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 5,630 rupees, compared with a loss of 158,130 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Reported net income totaled a loss of 7,000 rupees, or a loss of 0 paise per share, compared to a loss of 253,000 rupees, or a loss of 7 paise per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.