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Bannari Amman Sugars fiscal Q3 profit climbs YOY

Bannari Amman Sugars Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 26.10 Indian rupees per share, an increase from 75 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 298.5 million rupees, a gain from 8.6 million rupees in the year-earlier period.

The normalized profit margin climbed to 10.4% from 0.6% in the year-earlier period.

Total revenue climbed on an annual basis to 2.88 billion rupees from 1.33 billion rupees, and total operating expenses climbed from the prior-year period to 2.19 billion rupees from 1.08 billion rupees.

Reported net income rose on an annual basis to 340.9 million rupees, or 29.80 rupees per share, from 11.5 million rupees, or 1.01 rupees per share.

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