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Tilaknagar Industries fiscal Q3 profit falls YOY

Tilaknagar Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 6 Indian paise per share, a decrease of 95.4% from 1.30 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.4 million rupees, a decrease of 95.4% from 161.1 million rupees in the year-earlier period.

The normalized profit margin dropped to 0.4% from 7.2% in the year-earlier period.

Total revenue fell 19.9% on an annual basis to 1.79 billion rupees from 2.23 billion rupees, and total operating expenses declined 13.8% from the prior-year period to 1.56 billion rupees from 1.81 billion rupees.

Reported net income totaled a loss of 9.9 million rupees, or a loss of 8 paise per share, compared to income of 174.1 million rupees, or 1.40 rupees per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.