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Reliable Ventures India fiscal Q3 profit climbs 92.1% YOY

Reliable ventures India Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 41 Indian paise per share, an increase of 89.7% from 22 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 4.5 million rupees, an increase of 92.1% from 2.4 million rupees in the year-earlier period.

The normalized profit margin climbed to 11.4% from 6.8% in the year-earlier period.

Total revenue climbed 14.8% on an annual basis to 39.8 million rupees from 34.6 million rupees, and total operating expenses increased 5.0% from the prior-year period to 33.3 million rupees from 31.8 million rupees.

Reported net income grew year over year to 7.2 million rupees, or 66 paise per share, from 2.7 million rupees, or 25 paise per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.