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Saptarishi Agro Industries fiscal Q2 loss narrows YOY

Saptarishi Agro Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 3 Indian paise per share, compared with a loss of 3 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 908,130 rupees, compared with a loss of 1.2 million rupees in the prior-year period.

The normalized profit margin was 248.1%.

Total revenue grew on an annual basis to 366,000 rupees from 93,000 rupees, and total operating expenses decreased 16.8% year over year to 1.9 million rupees from 2.3 million rupees.

Reported net income totaled a loss of 1.5 million rupees, or a loss of 4 paise per share, compared to a loss of 2.0 million rupees, or a loss of 6 paise per share, in the prior-year period.

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