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Tuni Textile Mills fiscal Q3 profit climbs 11.1% YOY

Tuni Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 577,500 rupees, an increase of 11.1% from 520,000 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 0.3% from 1.2% in the year-earlier period.

Total revenue rose on an annual basis to 172.8 million rupees from 41.6 million rupees, and total operating expenses grew year over year to 169.0 million rupees from 39.0 million rupees.

Reported net income declined 34.0% on an annual basis to 459,000 rupees, or 0 paise per share, from 695,000 rupees, or 1 paise per share.

As of Feb. 11, US$1 was equivalent to 68.37 Indian rupees.