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Arex Industries profit holds mostly steady YOY in fiscal Q3

Arex Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 1.91 Indian rupees per share, compared with 1.92 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.6 million rupees, compared with 7.6 million rupees in the year-earlier period.

The normalized profit margin declined to 9.0% from 9.4% in the year-earlier period.

Total revenue grew on an annual basis to 84.2 million rupees from 80.6 million rupees, and total operating expenses increased year over year to 69.6 million rupees from 66.6 million rupees.

Reported net income declined from the prior-year period to 8.3 million rupees, or 2.09 rupees per share, from 8.4 million rupees, or 2.13 rupees per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.