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Sita Shree Food Products fiscal Q3 profit climbs YOY

Sita Shree Food Products Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 51 Indian paise per share, a gain from 18 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 14.1 million rupees, a gain from 920,000 rupees in the prior-year period.

The normalized profit margin rose to 0.9% from 0.1% in the year-earlier period.

Total revenue increased year over year to 1.57 billion rupees from 1.51 billion rupees, and total operating expenses rose on an annual basis to 1.50 billion rupees from 1.47 billion rupees.

Reported net income increased from the prior-year period to 18.0 million rupees, or 65 paise per share, from 1.5 million rupees, or 28 paise per share.

As of Feb. 19, US$1 was equivalent to 62.12 Indian rupees.