Bharat Gears Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 73 Indian paise per share, compared with a loss of 1.33 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.7 million rupees, compared with a loss of 10.4 million rupees in the year-earlier period.
The normalized profit margin increased to 0.6% from negative 1.0% in the year-earlier period.
Total revenue decreased 8.1% year over year to 988.0 million rupees from 1.07 billion rupees, and total operating expenses fell 9.8% from the prior-year period to 946.6 million rupees from 1.05 billion rupees.
Reported net income came to 4.7 million rupees, or 60 paise per share, compared to a loss of 12.5 million rupees, or a loss of 1.60 rupees per share, in the year-earlier period.
As of Jan. 28, US$1 was equivalent to 61.32 Indian rupees.
