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Banaras Beads fiscal Q3 profit falls YOY

Banaras Beads Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 45 Indian paise per share, a decline of 42.1% from 78 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 3.0 million rupees, a decline of 41.9% from 5.2 million rupees in the prior-year period.

The normalized profit margin declined to 5.0% from 10.1% in the year-earlier period.

Total revenue rose 17.3% year over year to 59.8 million rupees from 51.0 million rupees, and total operating expenses climbed 35.6% year over year to 59.7 million rupees from 44.0 million rupees.

Reported net income rose from the prior-year period to 45.0 million rupees, or 6.78 rupees per share, from 6.3 million rupees, or 95 paise per share.

As of Jan. 25, US$1 was equivalent to 67.76 Indian rupees.