Jaipan Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 6 Indian paise per share, a gain of 28.6% from 4 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 361,880 rupees, an increase of 28.7% from 281,250 rupees in the prior-year period.
The normalized profit margin increased to 0.5% from 0.3% in the year-earlier period.
Total revenue fell 23.5% year over year to 67.1 million rupees from 87.7 million rupees, and total operating expenses declined 24.3% year over year to 64.5 million rupees from 85.2 million rupees.
Reported net income increased 28.7% from the prior-year period to 579,000 rupees, or 9 paise per share, from 450,000 rupees, or 7 paise per share.
As of Feb. 16, US$1 was equivalent to 62.15 Indian rupees.
