Terai Tea Company Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 7.1 million rupees, compared with a loss of 7.8 million 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 fell to negative 3.2% from negative 2.8% in the year-earlier period.
Total revenue decreased 21.8% on an annual basis to 221.5 million rupees from 283.1 million rupees, and total operating expenses declined 22.9% year over year to 220.6 million rupees from 286.1 million rupees.
Reported net income came to a loss of 11.3 million rupees, compared with a loss of 12.5 million rupees in the prior-year period.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
