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Spectrum Foods fiscal Q3 profit climbs 78.8% YOY

Spectrum Foods Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 3 Indian paise per share, an increase of 66.7% from 2 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 163,130 rupees, an increase of 78.8% from 91,250 rupees in the prior-year period.

The normalized profit margin dropped to 1.2% from 2.7% in the year-earlier period.

Total revenue grew on an annual basis to 14.1 million rupees from 3.4 million rupees, and total operating expenses rose on an annual basis to 9.5 million rupees from 3.2 million rupees.

Reported net income increased 78.8% year over year to 261,000 rupees, or 5 paise per share, from 146,000 rupees, or 3 paise per share.

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