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Vadilal Enterprises fiscal Q3 loss widens 31.2% YOY

Vadilal Enterprises Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 30.25 Indian rupees per share, compared with a loss of 23.05 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 26.1 million rupees, compared with a loss of 19.9 million rupees in the prior-year period.

The normalized profit margin fell to negative 3.6% from negative 3.2% in the year-earlier period.

Total revenue grew 15.1% on an annual basis to 724.0 million rupees from 629.1 million rupees, and total operating expenses rose 15.9% year over year to 766.2 million rupees from 661.1 million rupees.

Reported net income totaled a loss of 28.0 million rupees, or a loss of 32.40 rupees per share, compared to a loss of 21.5 million rupees, or a loss of 24.90 rupees per share, in the prior-year period.

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