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Rasoya Proteins fiscal Q2 loss widens 34.5% YOY

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Rasoya Proteins fiscal Q2 loss widens 34.5% YOY

Rasoya Proteins Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 19 Indian paise per share, compared with a loss of 14 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 324.0 million rupees, compared with a loss of 240.9 million rupees in the year-earlier period.

The normalized profit margin fell to negative 104.7% from negative 20.0% in the year-earlier period.

Total revenue fell 74.3% year over year to 309.5 million rupees from 1.20 billion rupees, and total operating expenses decreased 43.8% from the prior-year period to 816.6 million rupees from 1.45 billion rupees.

Reported net income totaled a loss of 842.5 million rupees, or a loss of 49 paise per share, compared to a loss of 389.0 million rupees, or a loss of 23 paise per share, in the prior-year period.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.