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Kallam Spinning Mills fiscal Q3 profit falls YOY

Kallam Textiles Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 3 Indian paise per share, a decrease of 96.2% from 76 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 1.2 million rupees, a decline of 96.2% from 32.7 million rupees in the prior-year period.

The normalized profit margin dropped to 0.2% from 5.6% in the year-earlier period.

Total revenue rose 6.4% on an annual basis to 616.9 million rupees from 579.6 million rupees, and total operating expenses grew 14.1% on an annual basis to 568.4 million rupees from 498.3 million rupees.

Reported net income decreased 95.0% on an annual basis to 2.0 million rupees, or 5 paise per share, from 39.6 million rupees, or 92 paise per share.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.