TCI Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 24 Indian paise per share, a decrease of 87.3% from 1.88 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 211,250 rupees, a decline of 87.5% from 1.7 million rupees in the year-earlier period.
The normalized profit margin rose to 6.3% from 3.2% in the year-earlier period.
Total revenue decreased 93.5% on an annual basis to 3.4 million rupees from 51.9 million rupees, and total operating expenses decreased 93.0% year over year to 3.5 million rupees from 49.4 million rupees.
Reported net income fell 87.5% on an annual basis to 338,000 rupees, or 38 paise per share, from 2.7 million rupees, or 3.00 rupees per share.
As of Jan. 22, US$1 was equivalent to 61.40 Indian rupees.
