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Amarjothi Spinning Mills fiscal Q3 profit falls YOY

Amarjothi Spinning Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 3.13 Indian rupees per share, a decline of 50.2% from 6.29 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 21.2 million rupees, a decrease of 50.1% from 42.4 million rupees in the year-earlier period.

The normalized profit margin declined to 4.7% from 8.6% in the year-earlier period.

Total revenue declined 9.8% on an annual basis to 447.7 million rupees from 496.3 million rupees, and total operating expenses fell on an annual basis to 379.5 million rupees from 397.8 million rupees.

Reported net income declined 50.1% from the prior-year period to 26.8 million rupees, or 3.96 rupees per share, from 53.7 million rupees, or 7.95 rupees per share.

As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.