The Lakshmi Mills Company Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 6.91 Indian rupees per share, a decrease of 23.5% from 9.03 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 4.8 million rupees, a decline of 23.5% from 6.3 million rupees in the year-earlier period.
The normalized profit margin dropped to 1.0% from 1.1% in the year-earlier period.
Total revenue fell 11.0% on an annual basis to 496.8 million rupees from 558.3 million rupees, and total operating expenses decreased 9.7% from the prior-year period to 472.0 million rupees from 522.5 million rupees.
Reported net income declined 37.7% on an annual basis to 6.6 million rupees, or 9.45 rupees per share, from 10.6 million rupees, or 15.17 rupees per share.
As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.
