Kalpa Commercial Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 19 Indian paise per share, an increase from 9 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 191,180 rupees, a decrease of 80.2% from 965,650 rupees in the prior-year period.
The normalized profit margin dropped to 1.0% from 3.4% in the year-earlier period.
Total revenue decreased 35.9% year over year to 18.3 million rupees from 28.6 million rupees, and total operating expenses fell 33.4% on an annual basis to 18.0 million rupees from 27.1 million rupees.
Reported net income fell 80.2% from the prior-year period to 211,060 rupees, or 21 paise per share, from 1.1 million rupees, or 10 paise per share.
As of March 18, US$1 was equivalent to 62.70 Indian rupees.
