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Suryalakshmi Cotton Mills fiscal Q3 profit climbs 45.8% YOY

Suryalakshmi Cotton Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 3.77 Indian rupees per share, an increase of 45.5% from 2.59 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 63.0 million rupees, an increase of 45.8% from 43.2 million rupees in the year-earlier period.

The normalized profit margin increased to 3.4% from 2.4% in the year-earlier period.

Total revenue grew year over year to 1.83 billion rupees from 1.77 billion rupees, and total operating expenses climbed year over year to 1.64 billion rupees from 1.62 billion rupees.

Reported net income increased 43.1% from the prior-year period to 70.2 million rupees, or 4.21 rupees per share, from 49.1 million rupees, or 2.95 rupees per share.

As of Feb. 2, US$1 was equivalent to 67.97 Indian rupees.