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Vijay Solvex fiscal Q3 profit climbs YOY

Vijay Solvex Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 7.29 Indian rupees per share, an increase from 2.15 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 23.3 million rupees, a gain from 6.9 million rupees in the prior-year period.

The normalized profit margin increased to 1.3% from 0.4% in the year-earlier period.

Total revenue climbed on an annual basis to 1.81 billion rupees from 1.78 billion rupees, and total operating expenses totaled 1.76 billion rupees, compared with 1.75 billion rupees in the prior-year period.

Reported net income rose on an annual basis to 24.4 million rupees, or 7.63 rupees per share, from 8.2 million rupees, or 2.56 rupees per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.