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Reliance Industries fiscal Q3 profit climbs 37.9% YOY

Reliance Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 10.25 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 10.52 rupees per share.

EPS climbed 38.5% year over year from 7.40 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 60.27 billion rupees, an increase of 37.9% from 43.71 billion rupees in the prior-year period.

The normalized profit margin climbed to 8.8% from 4.7% in the year-earlier period.

Total revenue decreased 27.0% on an annual basis to 682.61 billion rupees from 935.28 billion rupees, and total operating expenses declined 31.6% on an annual basis to 600.26 billion rupees from 877.93 billion rupees.

Reported net income increased 38.7% year over year to 72.90 billion rupees, or 12.40 rupees per share, from 52.56 billion rupees, or 8.90 rupees per share.

As of Jan. 19, US$1 was equivalent to 67.70 Indian rupees.