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Zodiac Clothing fiscal Q3 profit falls YOY

Zodiac Clothing Company Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 88 Indian paise per share, a decrease of 61.2% from 2.26 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 17.1 million rupees, a decline of 61.1% from 43.9 million rupees in the prior-year period.

The normalized profit margin declined to 1.9% from 4.3% in the year-earlier period.

Total revenue decreased 12.2% year over year to 886.3 million rupees from 1.01 billion rupees, and total operating expenses fell 8.3% on an annual basis to 858.6 million rupees from 936.3 million rupees.

Reported net income decreased 55.6% from the prior-year period to 22.0 million rupees, or 1.13 rupees per share, from 49.5 million rupees, or 2.55 rupees per share.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.