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Shiva Texyarn fiscal Q3 profit climbs 40.2% YOY

Shiva Texyarn Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 96 Indian paise per share, a gain of 40.2% from 69 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.4 million rupees, an increase of 40.2% from 8.9 million rupees in the prior-year period.

The normalized profit margin climbed to 1.2% from 0.7% in the year-earlier period.

Total revenue declined 11.5% on an annual basis to 1.06 billion rupees from 1.20 billion rupees, and total operating expenses declined 12.4% year over year to 988.9 million rupees from 1.13 billion rupees.

Reported net income fell 8.3% on an annual basis to 14.2 million rupees, or 1.10 rupees per share, from 15.5 million rupees, or 1.20 rupees per share.

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