Sreeleathers Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 56 Indian paise per share, a decline of 6.8% from 61 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.2 million rupees, a decrease of 7.3% from 15.3 million rupees in the year-earlier period.
The normalized profit margin declined to 9.5% from 11.3% in the year-earlier period.
Total revenue increased 9.8% year over year to 148.7 million rupees from 135.5 million rupees, and total operating expenses rose 12.3% year over year to 125.4 million rupees from 111.7 million rupees.
Reported net income fell 17.8% on an annual basis to 14.3 million rupees, or 57 paise per share, from 17.4 million rupees, or 69 paise per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
