Grandeur Products Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 31,250 rupees, a decrease of 19.4% from 38,750 rupees in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 3.4% from 3.7% in the year-earlier period.
Total revenue declined 11.7% year over year to 920,000 rupees from 1.0 million rupees, and total operating expenses declined 11.1% on an annual basis to 870,000 rupees from 979,000 rupees.
Reported net income decreased 18.6% from the prior-year period to 35,000 rupees, or 1 paise per share, from 43,000 rupees, or 18 paise per share.
As of Jan. 15, US$1 was equivalent to 61.77 Indian rupees.
