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Tarai Foods fiscal Q3 loss widens 23.5% YOY

Tarai Foods Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 6 Indian paise per share, compared with a loss of 4 paise 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 787,500 rupees, compared with a loss of 637,500 rupees in the year-earlier period.

The normalized profit margin dropped to negative 16.8% from negative 12.2% in the year-earlier period.

Total revenue decreased 10.3% on an annual basis to 4.7 million rupees from 5.2 million rupees, and total operating expenses declined from the prior-year period to 5.9 million rupees from 6.2 million rupees.

Reported net income came to a loss of 1.3 million rupees, or a loss of 9 paise per share, compared to a loss of 2.0 million rupees, or a loss of 14 paise per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.