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Lypsa Gems & Jewellery fiscal Q3 profit climbs 30.1% YOY

Lypsa Gems & Jewellery Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 1.31 Indian rupees per share, an increase of 30.4% from 1.01 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 38.8 million rupees, an increase of 30.1% from 29.8 million rupees in the prior-year period.

The normalized profit margin increased to 2.8% from 1.9% in the year-earlier period.

Total revenue decreased 8.9% year over year to 1.39 billion rupees from 1.53 billion rupees, and total operating expenses fell 9.9% year over year to 1.33 billion rupees from 1.47 billion rupees.

Reported net income grew 41.3% year over year to 60.3 million rupees, or 2.04 rupees per share, from 42.6 million rupees, or 1.44 rupees per share.

As of Feb. 8, US$1 was equivalent to 68.00 Indian rupees.