India, Oct. 9 -- On Friday, Toro Corp. (TORO), a global energy transportation provider, reported a loss in the second quarter, compared to profit last year. Despite a surge in vessel revenue, higher expenses and preferred dividend allocations had an impact on earnings.
Net loss attributable to the company was $610,331 or $0.129 per share, compared to earnings of $286,272 or $0.015 per share in the prior year's second quarter.
Net comprehensive income was $557,858, compared to $1.427 million last year.
Voyage expenses widened to $709,645 from $208,186 a year ago.
Vessel operating expenses went up to $2.38 million from $1.98 million last year.
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