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Sky Industries fiscal Q3 profit falls YOY

Sky Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 17 Indian paise per share, a decline of 72.9% from 62 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 662,500 rupees, a decrease of 73.1% from 2.5 million rupees in the year-earlier period.

The normalized profit margin fell to 0.4% from 1.5% in the year-earlier period.

Total revenue decreased on an annual basis to 160.7 million rupees from 166.4 million rupees, and total operating expenses fell 5.2% on an annual basis to 146.2 million rupees from 154.2 million rupees.

Reported net income decreased 45.7% from the prior-year period to 2.5 million rupees, or 63 paise per share, from 4.6 million rupees, or 1.15 rupees per share.

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