Mayur Leather Products Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 13 Indian paise per share, a decline of 73.9% from 51 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 640,630 rupees, a decline of 73.7% from 2.4 million rupees in the year-earlier period.
The normalized profit margin fell to 1.1% from 4.3% in the year-earlier period.
Total revenue climbed 6.7% year over year to 60.7 million rupees from 56.8 million rupees, and total operating expenses came to 61.5 million rupees, compared with 61.0 million rupees in the year-earlier period.
Reported net income decreased 71.8% year over year to 675,000 rupees, or 14 paise per share, from 2.4 million rupees, or 50 paise per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
