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Ashima fiscal Q1 loss narrows YOY

Ashima Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 24 Indian paise per share, compared with a loss of 39 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 4.5 million rupees, compared with a loss of 9.3 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 0.6% from negative 1.2% in the year-earlier period.

Total revenue rose year over year to 786.6 million rupees from 763.2 million rupees, and total operating expenses increased on an annual basis to 791.4 million rupees from 774.7 million rupees.

Reported net income came to a loss of 7.2 million rupees, or a loss of 39 paise per share, compared to a loss of 14.9 million rupees, or a loss of 62 paise per share, in the year-earlier period.

As of July 29, US$1 was equivalent to 60.26 Indian rupees.