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Divinus Fabrics fiscal Q3 profit falls YOY

Divinus Fabrics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1 Indian paise per share, a decrease of 90.3% from 15 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 66,250 rupees, a decline of 90.5% from 696,880 rupees in the year-earlier period.

The normalized profit margin fell to 0.5% from 4.2% in the year-earlier period.

Total revenue decreased 25.0% on an annual basis to 12.6 million rupees from 16.8 million rupees, and total operating expenses fell 20.3% year over year to 12.5 million rupees from 15.7 million rupees.

Reported net income decreased 90.5% on an annual basis to 73,000 rupees, or 2 paise per share, from 770,000 rupees, or 17 paise per share.

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