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Virat Industries fiscal Q3 profit climbs 29.1% YOY

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Virat Industries fiscal Q3 profit climbs 29.1% YOY

Virat Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 1.20 Indian rupees per share, a gain of 29.3% from 93 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 5.9 million rupees, an increase of 29.1% from 4.6 million rupees in the prior-year period.

The normalized profit margin rose to 9.9% from 8.9% in the year-earlier period.

Total revenue climbed 16.3% on an annual basis to 59.7 million rupees from 51.3 million rupees, and total operating expenses grew 14.2% from the prior-year period to 51.7 million rupees from 45.3 million rupees.

Reported net income grew 16.2% year over year to 6.3 million rupees, or 1.28 rupees per share, from 5.4 million rupees, or 1.10 rupees per share.

As of Feb. 16, US$1 was equivalent to 68.46 Indian rupees.