Loyal Textile Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 1.81 Indian rupees per share, a decrease of 81.6% from 9.82 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.8 million rupees, a decrease of 81.4% from 47.4 million rupees in the year-earlier period.
The normalized profit margin dropped to 0.3% from 1.2% in the year-earlier period.
Total revenue fell 15.6% on an annual basis to 3.32 billion rupees from 3.94 billion rupees, and total operating expenses fell 14.9% on an annual basis to 3.14 billion rupees from 3.69 billion rupees.
Reported net income decreased 78.6% year over year to 9.3 million rupees, or 1.91 rupees per share, from 43.4 million rupees, or 9.00 rupees per share.
As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.
