Divya Jyoti Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 3.4 million rupees, a fall of 33.2% from 5.0 million rupees in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 0.3% from 0.4% in the year-earlier period.
Total revenue fell 18.0% on an annual basis to 971.1 million rupees from 1.18 billion rupees, and total operating expenses fell 17.8% from the prior-year period to 956.7 million rupees from 1.16 billion rupees.
Reported net income totaled 5.4 million rupees, compared with 8.1 million rupees in the year-earlier period.
As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.
