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Southern Latex fiscal Q3 profit climbs YOY

Southern Latex Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 176,250 rupees, a rise from 171,250 rupees in the year-earlier period.

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

The normalized profit margin increased to 49.0% from 11.1% in the year-earlier period.

Total revenue fell 76.7% on an annual basis to 360,000 rupees from 1.5 million rupees, and total operating expenses fell 76.6% on an annual basis to 438,000 rupees from 1.9 million rupees.

Reported net income grew on an annual basis to 282,000 rupees, or 4 paise per share, from 274,000 rupees.

As of Feb. 2, US$1 was equivalent to 67.97 Indian rupees.