N.K Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 3.40 Indian rupees per share, compared with a loss of 1.80 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 20.4 million rupees, compared with a loss of 10.8 million rupees in the year-earlier period.
The normalized profit margin declined to negative 129.1% from negative 3.4% in the year-earlier period.
Total revenue decreased 95.0% on an annual basis to 15.8 million rupees from 319.5 million rupees, and total operating expenses declined 85.0% on an annual basis to 50.4 million rupees from 336.8 million rupees.
Reported net income came to a loss of 32.7 million rupees, or a loss of 5.44 rupees per share, compared to a loss of 17.3 million rupees, or a loss of 2.88 rupees per share, in the prior-year period.
As of Feb. 9, US$1 was equivalent to 62.14 Indian rupees.
