Pearl Global Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.57 Indian rupees per share, compared with a loss of 18 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 55.7 million rupees, compared with a loss of 3.9 million rupees in the year-earlier period.
The normalized profit margin rose to 2.4% from negative 0.0% in the year-earlier period.
Total revenue declined 77.7% year over year to 2.36 billion rupees from 10.59 billion rupees, and total operating expenses fell 78.8% year over year to 2.27 billion rupees from 10.67 billion rupees.
Reported net income came to 70.2 million rupees, or 3.24 rupees per share, compared to a loss of 48.3 million rupees, or a loss of 2.23 rupees per share, in the prior-year period.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
