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Orient Beverages fiscal Q3 profit falls YOY

Orient Beverages Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 35 Indian paise per share, a decline of 76.3% from 1.48 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 750,000 rupees, a decline of 76.5% from 3.2 million rupees in the prior-year period.

The normalized profit margin fell to 1.1% from 5.9% in the year-earlier period.

Total revenue grew 21.0% year over year to 65.6 million rupees from 54.2 million rupees, and total operating expenses rose 25.7% year over year to 63.6 million rupees from 50.6 million rupees.

Reported net income fell 76.5% from the prior-year period to 1.2 million rupees, or 56 paise per share, from 5.1 million rupees, or 2.36 rupees per share.

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