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Tricom Fruit Products fiscal Q1 loss widens 12.5% YOY

Tricom Fruit Products Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 97 Indian paise per share, compared with a loss of 86 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 15.5 million rupees, compared with a loss of 13.8 million rupees in the year-earlier period.

Total revenue increased on an annual basis to 2.9 million rupees from 805,000 rupees, and total operating expenses increased 40.6% on an annual basis to 12.8 million rupees from 9.1 million rupees.

Reported net income came to a loss of 24.8 million rupees, or a loss of 1.56 rupees per share, compared to a loss of 27.7 million rupees, or a loss of 1.74 rupees per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.