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Dhanada fiscal Q1 loss narrows YOY

Dhanada Corp. Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 3 Indian paise per share, compared with a loss of 7 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 1.7 million rupees, compared with a loss of 4.2 million rupees in the prior-year period.

The normalized profit margin increased to negative 8.4% from negative 21.0% in the year-earlier period.

Total revenue grew year over year to 20.4 million rupees from 19.8 million rupees, and total operating expenses fell 27.8% on an annual basis to 18.8 million rupees from 26.1 million rupees.

Reported net income totaled a loss of 3.0 million rupees, or a loss of 5 paise per share, compared to a loss of 8.5 million rupees, or a loss of 15 paise per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.