Damodar Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.71 Indian rupees per share, a decline of 27.5% from 2.36 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 19.0 million rupees, a decrease of 27.6% from 26.2 million rupees in the year-earlier period.
The normalized profit margin fell to 1.3% from 1.4% in the year-earlier period.
Total revenue fell 23.1% on an annual basis to 1.42 billion rupees from 1.85 billion rupees, and total operating expenses decreased 23.6% on an annual basis to 1.34 billion rupees from 1.75 billion rupees.
Reported net income fell 9.7% on an annual basis to 25.0 million rupees, or 2.25 rupees per share, from 27.7 million rupees, or 2.49 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
