Hisar Spinning Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 34 Indian paise per share, a decrease of 47.7% from 64 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 1.3 million rupees, a decrease of 46.5% from 2.4 million rupees in the year-earlier period.
The normalized profit margin declined to 2.0% from 4.6% in the year-earlier period.
Total revenue increased 23.1% year over year to 63.8 million rupees from 51.8 million rupees, and total operating expenses rose 29.1% year over year to 61.1 million rupees from 47.3 million rupees.
Reported net income fell 87.4% on an annual basis to 418,000 rupees, or 11 paise per share, from 3.3 million rupees, or 89 paise per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
