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Prag Bosimi Synthetics fiscal Q3 loss narrows YOY

Prag Bosimi Synthetics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 18 Indian paise per share, compared with a loss of 68 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 13.5 million rupees, compared with a loss of 50.1 million rupees in the year-earlier period.

The normalized profit margin was 3.0%.

Total revenue climbed year over year to 445.4 million rupees from 1.4 million rupees, and total operating expenses rose from the prior-year period to 442.5 million rupees from 54.6 million rupees.

Reported net income came to a loss of 22.2 million rupees, or a loss of 30 paise per share, compared to a loss of 80.1 million rupees, or a loss of 1.08 rupees per share, in the prior-year period.

As of Feb. 15, US$1 was equivalent to 68.14 Indian rupees.