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Swasti Vinayaka Art & Heritage fiscal Q3 profit climbs YOY

Swasti Vinayaka Art & Heritage Corp. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 8 Indian paise per share, an increase from 4 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 3.4 million rupees, a gain from 1.4 million rupees in the year-earlier period.

The normalized profit margin climbed to 17.3% from 8.3% in the year-earlier period.

Total revenue rose 13.6% year over year to 19.6 million rupees from 17.2 million rupees, and total operating expenses fell from the prior-year period to 10.7 million rupees from 11.0 million rupees.

Reported net income grew year over year to 3.7 million rupees, or 9 paise per share, from 1.5 million rupees, or 4 paise per share.

As of Jan. 22, US$1 was equivalent to 61.40 Indian rupees.