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Cosco (India) fiscal Q3 profit climbs 7.9% YOY

Cosco (India) Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 10.5 million rupees, a gain of 7.9% from 9.7 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 3.3% from 3.9% in the year-earlier period.

Total revenue climbed 27.0% year over year to 317.9 million rupees from 250.4 million rupees, and total operating expenses rose 28.2% from the prior-year period to 290.8 million rupees from 226.9 million rupees.

Reported net income decreased 6.5% year over year to 11.6 million rupees, or 2.78 rupees per share, from 12.4 million rupees.

As of Feb. 2, US$1 was equivalent to 61.72 Indian rupees.