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Archies fiscal Q3 profit falls YOY

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Archies fiscal Q3 profit falls YOY

Archies Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 43 Indian paise per share, a decrease of 26.4% from 58 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 14.4 million rupees, a decrease of 26.2% from 19.5 million rupees in the year-earlier period.

The normalized profit margin declined to 2.8% from 3.7% in the year-earlier period.

Total revenue fell year over year to 519.6 million rupees from 529.4 million rupees, and total operating expenses came to 490.5 million rupees, compared with 487.9 million rupees in the prior-year period.

Reported net income declined 32.7% year over year to 14.6 million rupees, or 43 paise per share, from 21.6 million rupees, or 64 paise per share.

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