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Avanti Feeds fiscal Q3 profit climbs 8.9% YOY


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Avanti Feeds fiscal Q3 profit climbs 8.9% YOY

Avanti Feeds Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 7.79 Indian rupees per share, a gain of 8.5% from 7.18 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 347.4 million rupees, a gain of 8.9% from 318.9 million rupees in the prior-year period.

The normalized profit margin increased to 8.4% from 8.3% in the year-earlier period.

Total revenue increased 7.3% on an annual basis to 4.13 billion rupees from 3.85 billion rupees, and total operating expenses increased 7.0% from the prior-year period to 3.60 billion rupees from 3.37 billion rupees.

Reported net income grew 8.2% from the prior-year period to 365.4 million rupees, or 8.19 rupees per share, from 337.8 million rupees, or 7.60 rupees per share.

As of Jan. 29, US$1 was equivalent to 67.85 Indian rupees.