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Polygenta Technologies fiscal Q1 loss widens 24.8% YOY

Polygenta Technologies Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 79 Indian paise per share, compared with a loss of 75 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 114.4 million rupees, compared with a loss of 91.6 million rupees in the prior-year period.

The normalized profit margin rose to negative 79.9% from negative 123.5% in the year-earlier period.

Total revenue climbed 92.8% year over year to 143.1 million rupees from 74.2 million rupees, and total operating expenses climbed 73.0% from the prior-year period to 295.0 million rupees from 170.5 million rupees.

Reported net income totaled a loss of 183.0 million rupees, or a loss of 1.26 rupees per share, compared to a loss of 146.6 million rupees, or a loss of 1.20 rupees per share, in the year-earlier period.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.