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Neo Corp International fiscal Q3 profit climbs 69.6% YOY

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Neo Corp International fiscal Q3 profit climbs 69.6% YOY

Neo Corp International Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2.50 Indian rupees per share, an increase of 69.3% from 1.47 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 95.0 million rupees, a gain of 69.6% from 56.0 million rupees in the year-earlier period.

The normalized profit margin fell to 2.7% from 3.1% in the year-earlier period.

Total revenue grew 92.3% year over year to 3.47 billion rupees from 1.81 billion rupees, and total operating expenses grew 96.8% on an annual basis to 3.17 billion rupees from 1.61 billion rupees.

Reported net income grew 92.9% year over year to 128.3 million rupees, or 3.37 rupees per share, from 66.5 million rupees, or 1.75 rupees per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.