VST Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 18.42 Indian rupees per share, a decrease of 21.7% from 23.53 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 284.4 million rupees, a decline of 21.7% from 363.4 million rupees in the prior-year period.
The normalized profit margin declined to 14.5% from 17.2% in the year-earlier period.
Total revenue decreased 6.8% year over year to 1.96 billion rupees from 2.11 billion rupees, and total operating expenses totaled 1.55 billion rupees, compared with 1.55 billion rupees in the year-earlier period.
Reported net income declined 21.6% on an annual basis to 303.6 million rupees, or 19.67 rupees per share, from 387.0 million rupees, or 25.06 rupees per share.
As of Jan. 22, US$1 was equivalent to 61.40 Indian rupees.
