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Banaras Beads fiscal Q3 profit falls YOY

Banaras Beads Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 78 Indian paise per share, a decrease of 6.5% from 84 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 5.2 million rupees, a decline of 7.3% from 5.6 million rupees in the prior-year period.

The normalized profit margin increased to 10.1% from 9.7% in the year-earlier period.

Total revenue decreased 11.7% on an annual basis to 51.0 million rupees from 57.8 million rupees, and total operating expenses declined 9.4% from the prior-year period to 44.0 million rupees from 48.6 million rupees.

Reported net income declined 9.4% on an annual basis to 6.3 million rupees, or 95 paise per share, from 6.9 million rupees, or 1.04 rupees per share.

As of Jan. 22, US$1 was equivalent to 61.40 Indian rupees.