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Piramal Phytocare fiscal Q2 loss narrows YOY

Piramal Phytocare Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 25 Indian paise per share, compared with a loss of 25 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 6.8 million rupees, compared with a loss of 7.0 million rupees in the prior-year period.

The normalized profit margin rose to negative 88.5% from negative 101.4% in the year-earlier period.

Total revenue increased 11.6% year over year to 7.7 million rupees from 6.9 million rupees, and total operating expenses increased 5.9% year over year to 19.7 million rupees from 18.6 million rupees.

Reported net income came to a loss of 10.9 million rupees, or a loss of 40 paise per share, compared to a loss of 11.2 million rupees, or a loss of 40 paise per share, in the year-earlier period.

As of Oct. 20, US$1 was equivalent to 61.26 Indian rupees.