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Premco Global fiscal Q3 profit climbs 87.0% YOY

Premco Global Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 10.31 Indian rupees per share, a gain of 78.8% from 5.76 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 34.3 million rupees, an increase of 87.0% from 18.4 million rupees in the prior-year period.

The normalized profit margin increased to 16.5% from 10.2% in the year-earlier period.

Total revenue grew 15.9% on an annual basis to 208.5 million rupees from 179.9 million rupees, and total operating expenses climbed year over year to 153.1 million rupees from 148.7 million rupees.

Reported net income rose 83.4% from the prior-year period to 36.0 million rupees, or 10.81 rupees per share, from 19.6 million rupees, or 6.16 rupees per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.