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Eurotex Industries & Exports fiscal Q2 loss narrows YOY

Eurotex Industries and Exports Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 1.64 Indian rupees per share, compared with a loss of 2.02 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 14.4 million rupees, compared with a loss of 17.7 million rupees in the prior-year period.

The normalized profit margin rose to negative 2.4% from negative 2.8% in the year-earlier period.

Total revenue decreased 6.4% year over year to 598.4 million rupees from 639.0 million rupees, and total operating expenses declined 5.2% from the prior-year period to 614.6 million rupees from 648.7 million rupees.

Reported net income totaled a loss of 22.8 million rupees, or a loss of 2.61 rupees per share, compared to a loss of 26.3 million rupees, or a loss of 3.00 rupees per share, in the prior-year period.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.