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JK Agri Genetics fiscal Q3 loss narrows YOY

JK Agri Genetics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 11.82 Indian rupees per share, compared with a loss of 12.53 rupees 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 42.6 million rupees, compared with a loss of 45.2 million rupees in the year-earlier period.

The normalized profit margin increased to negative 23.0% from negative 28.4% in the year-earlier period.

Total revenue rose 16.4% on an annual basis to 184.9 million rupees from 158.8 million rupees, and total operating expenses climbed 10.6% on an annual basis to 222.6 million rupees from 201.3 million rupees.

Reported net income totaled a loss of 44.0 million rupees, or a loss of 12.22 rupees per share, compared to a loss of 51.3 million rupees, or a loss of 14.24 rupees per share, in the prior-year period.

As of Feb. 3, US$1 was equivalent to 61.67 Indian rupees.