Bannari Amman Spinning Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.20 Indian rupees per share, a decline of 66.4% from 3.58 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 18.9 million rupees, a decline of 66.4% from 56.4 million rupees in the year-earlier period.
The normalized profit margin fell to 1.2% from 3.3% in the year-earlier period.
Total revenue decreased 5.0% on an annual basis to 1.63 billion rupees from 1.71 billion rupees, and total operating expenses fell from the prior-year period to 1.51 billion rupees from 1.53 billion rupees.
Reported net income decreased 66.9% from the prior-year period to 20.3 million rupees, or 1.29 rupees per share, from 61.4 million rupees, or 3.90 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
