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Tara Jewels fiscal Q3 profit falls YOY

Tara Jewels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 5.84 Indian rupees per share, a decline of 29.4% from 8.26 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 143.6 million rupees, a decrease of 29.3% from 203.1 million rupees in the prior-year period.

The normalized profit margin declined to 2.9% from 4.0% in the year-earlier period.

Total revenue came to 5.02 billion rupees, compared with 5.05 billion rupees in the year-earlier period, and total operating expenses rose on an annual basis to 4.60 billion rupees from 4.56 billion rupees.

Reported net income declined 26.6% on an annual basis to 161.9 million rupees, or 6.58 rupees per share, from 220.5 million rupees, or 8.97 rupees per share.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.