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Super Sales India swings to loss in fiscal Q1

Super Sales India Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 78 Indian paise per share, compared with 7.05 rupees 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 2.4 million rupees, compared with income of 21.7 million rupees in the year-earlier period.

The normalized profit margin declined to negative 0.5% from 4.5% in the year-earlier period.

Total revenue climbed 9.3% year over year to 521.4 million rupees from 477.0 million rupees, and total operating expenses grew 21.4% year over year to 512.1 million rupees from 421.7 million rupees.

Reported net income totaled a loss of 2.2 million rupees, or a loss of 73 paise per share, compared to income of 24.2 million rupees, or 7.86 rupees per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.