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Sacheta Metals fiscal Q3 profit falls YOY

Sacheta Metals Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 62,500 rupees, a decline of 97.1% from 2.2 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.0% from 1.4% in the year-earlier period.

Total revenue increased 17.6% year over year to 182.2 million rupees from 154.9 million rupees, and total operating expenses increased 21.5% on an annual basis to 181.7 million rupees from 149.5 million rupees.

Reported net income declined 91.1% from the prior-year period to 186,360 rupees, or 1 paise per share, from 2.1 million rupees, or 11 paise per share.

As of Feb. 2, US$1 was equivalent to 61.72 Indian rupees.