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KG Petrochem fiscal Q3 profit falls YOY

KG Petrochem Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 1.59 Indian rupees per share, a decrease of 56.1% from 3.62 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 8.3 million rupees, a decrease of 56.1% from 18.9 million rupees in the prior-year period.

The normalized profit margin fell to 1.8% from 5.6% in the year-earlier period.

Total revenue climbed 38.4% year over year to 467.4 million rupees from 337.7 million rupees, and total operating expenses rose 48.5% on an annual basis to 443.0 million rupees from 298.3 million rupees.

Reported net income declined 17.6% on an annual basis to 17.0 million rupees, or 3.25 rupees per share, from 20.6 million rupees, or 3.95 rupees per share.

As of Jan. 15, US$1 was equivalent to 61.77 Indian rupees.