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Ravalgaon Sugar Farm fiscal Q2 loss narrows YOY

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Ravalgaon Sugar Farm fiscal Q2 loss narrows YOY

The Ravalgaon Sugar Farm Ltd said its normalized net income for the fiscal second quarter ended Sept. 30, 2014, came to a loss of 217.19 Indian rupees per share, compared with a loss of 298.34 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 14.8 million rupees, compared with a loss of 20.3 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 17.1% from negative 41.5% in the year-earlier period.

Total revenue rose 76.9% year over year to 86.5 million rupees from 48.9 million rupees, and total operating expenses increased 57.4% from the prior-year period to 110.7 million rupees from 70.3 million rupees.

Reported net income came to a loss of 84.6 million rupees, or a loss of 1,244.57 rupees per share, compared to a loss of 32.1 million rupees, or a loss of 472.69 rupees per share, in the year-earlier period.

As of Jan. 6, US$1 was equivalent to 63.33 Indian rupees.