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LT Foods fiscal Q3 profit falls YOY

LT Foods Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 38 Indian paise per share, a decrease of 49.3% from 76 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 102.0 million rupees, a decrease of 49.2% from 200.9 million rupees in the year-earlier period.

The normalized profit margin fell to 1.4% from 3.3% in the year-earlier period.

Total revenue grew 15.0% on an annual basis to 7.04 billion rupees from 6.12 billion rupees, and total operating expenses climbed 18.1% on an annual basis to 6.53 billion rupees from 5.53 billion rupees.

Reported net income declined 47.3% on an annual basis to 108.6 million rupees, or 41 paise per share, from 206.0 million rupees, or 78 paise per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.