Virat Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 93 Indian paise per share, a decline of 41.3% from 1.58 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.6 million rupees, a decline of 40.9% from 7.8 million rupees in the prior-year period.
The normalized profit margin dropped to 8.9% from 15.3% in the year-earlier period.
Total revenue climbed on an annual basis to 51.3 million rupees from 50.7 million rupees, and total operating expenses increased 14.7% on an annual basis to 45.3 million rupees from 39.5 million rupees.
Reported net income declined 35.2% from the prior-year period to 5.4 million rupees, or 1.10 rupees per share, from 8.4 million rupees, or 1.71 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
