CIL Nova Petrochemicals Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 11 Indian paise per share, a decline of 75.6% from 45 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 1.5 million rupees, a decline of 75.7% from 6.1 million rupees in the prior-year period.
The normalized profit margin declined to 0.3% from 0.8% in the year-earlier period.
Total revenue fell 31.7% on an annual basis to 516.6 million rupees from 756.1 million rupees, and total operating expenses fell 31.5% year over year to 501.8 million rupees from 732.1 million rupees.
Reported net income fell 75.5% year over year to 1.9 million rupees, or 14 paise per share, from 7.7 million rupees, or 57 paise per share.
As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.
