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Rajvir Industries fiscal Q3 loss narrows YOY

Rajvir Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 8.05 Indian rupees per share, compared with a loss of 14.30 rupees 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 24.4 million rupees, compared with a loss of 43.4 million rupees in the prior-year period.

The normalized profit margin dropped to negative 11.3% from negative 9.6% in the year-earlier period.

Total revenue decreased 52.2% year over year to 217.2 million rupees from 454.3 million rupees, and total operating expenses decreased 55.9% year over year to 206.7 million rupees from 469.0 million rupees.

Reported net income came to a loss of 29.4 million rupees, or a loss of 9.67 rupees per share, compared to a loss of 53.3 million rupees, or a loss of 17.56 rupees per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.