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Fairfax India Holdings Corporation: First Quarter Financial Results
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO,...
About this update from Fairfax India Holdings Corp
[{"type":"text","content":"Fairfax India Holdings Corporation: First Quarter Financial Results\nNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES (Note: All dollar amounts in this press release are expressed in U.S. dollars except as otherwise noted. The financial results are derived from unaudited financial statements prepared using the recognition and measurement requirements of International Financial Reporting Standards as issued by the International Accounting Standards Board (\"IFRS® Accounting Standards\"), except as otherwise noted. This press release contains certain non-GAAP and other financial measures, including book value per share and cash and marketable securities, that do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar financial measures presented by other issuers. See \"Glossary of non-GAAP and other financial measures\" at the end of this press release for further details.)   TORONTO, April 30, 2026 (GLOBE NEWSWIRE) -- Fairfax India Holdings Corporation (TSX: FIH.U) announces a net loss of $370.8 million ($2.76 net loss per diluted share) in the first quarter of 2026, compared to a net loss of $211.2 million in the first quarter of 2025 ($1.57 net loss per diluted share). The company's book value per share decreased 16.8% to $19.08 at March 31, 2026 from $22.94 at December 31, 2025, primarily due to net unrealized losses on investments and unrealized foreign currency translation losses during the first quarter of 2026. \"Our net loss of $370.8 million in the quarter was principally comprised of unrealized losses on public common stocks of $361.9 million. As we have said in the past, we expect our common stock positions to perform well over the long term, but our net gains or losses will fluctuate from quarter to quarter,\" said Gopalakrishnan Soundarajan, Chief Executive Officer. Highlights for the first quarter of 2026 included the following: Net change in unrealized losses on investments of $345.4 million principally from decreases in the fair values of the company's publicly listed investments in IIFL Finance ($129.0 million), IIFL Capital ($110.9 million), CSB Bank ($91.5 million), Fairchem Organics ($22.8 million) and 5paisa ($7.7 million), and on the private company invest...