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Shekhawati Poly-Yarn fiscal Q3 profit falls YOY

Shekhawati Poly-Yarn Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 856,880 rupees, a decline of 94.9% from 16.7 million rupees in the prior-year period.

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

The normalized profit margin dropped to 0.1% from 1.9% in the year-earlier period.

Total revenue grew 16.9% year over year to 1.01 billion rupees from 867.1 million rupees, and total operating expenses climbed 21.5% year over year to 983.5 million rupees from 809.6 million rupees.

Reported net income fell 96.6% on an annual basis to 564,000 rupees, or 0 paise per share, from 16.7 million rupees, or 8 paise per share.

As of Feb. 16, US$1 was equivalent to 62.15 Indian rupees.