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Phoenix Township fiscal Q3 profit climbs YOY

Phoenix Township Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 18 Indian paise per share, compared with 18 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.6 million rupees, an increase from 2.5 million rupees in the year-earlier period.

The normalized profit margin climbed to 6.6% from 6.6% in the year-earlier period.

Total revenue grew on an annual basis to 38.7 million rupees from 38.0 million rupees, and total operating expenses came to 32.9 million rupees, compared with 33.1 million rupees in the prior-year period.

Reported net income totaled 4.1 million rupees, or 29 paise per share, compared to 4.0 million rupees, or 29 paise per share, in the year-earlier period.

As of Feb. 9, US$1 was equivalent to 67.92 Indian rupees.