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Phoenix Township fiscal Q3 profit falls YOY

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Phoenix Township fiscal Q3 profit falls YOY

Phoenix Township Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 18 Indian paise per share, a decrease of 50.8% from 37 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.5 million rupees, a decrease of 51.4% from 5.2 million rupees in the prior-year period.

The normalized profit margin fell to 6.6% from 15.0% in the year-earlier period.

Total revenue grew 10.1% on an annual basis to 38.0 million rupees from 34.5 million rupees, and total operating expenses grew 33.1% year over year to 33.1 million rupees from 24.8 million rupees.

Reported net income fell 51.4% on an annual basis to 4.0 million rupees, or 29 paise per share, from 8.3 million rupees, or 59 paise per share.

As of Feb. 2, US$1 was equivalent to 61.72 Indian rupees.