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Modi Naturals fiscal Q3 profit falls YOY

Modi Naturals Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2 Indian paise per share, a decrease of 83.3% from 11 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 188,750 rupees, a decrease of 84.6% from 1.2 million rupees in the prior-year period.

The normalized profit margin declined to 0.0% from 0.2% in the year-earlier period.

Total revenue climbed year over year to 728.1 million rupees from 703.2 million rupees, and total operating expenses climbed from the prior-year period to 722.0 million rupees from 698.9 million rupees.

Reported net income decreased 84.6% year over year to 302,000 rupees, or 3 paise per share, from 2.0 million rupees, or 18 paise per share.

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