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Sundaram Brake Linings fiscal Q1 loss narrows YOY

Sundaram Brake Linings Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 5.13 Indian rupees per share, compared with a loss of 9.13 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 20.2 million rupees, compared with a loss of 35.9 million rupees in the year-earlier period.

The normalized profit margin rose to negative 3.7% from negative 6.4% in the year-earlier period.

Total revenue fell year over year to 548.9 million rupees from 558.2 million rupees, and total operating expenses decreased 5.6% on an annual basis to 573.8 million rupees from 607.7 million rupees.

Reported net income came to a loss of 32.3 million rupees, or a loss of 8.20 rupees per share, compared to a loss of 57.5 million rupees, or a loss of 14.60 rupees per share, in the prior-year period.

As of Aug. 6, US$1 was equivalent to 63.70 Indian rupees.