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TT Ltd. fiscal Q3 profit climbs YOY

T.T. Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.73 Indian rupees per share, a gain from 57 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 37.4 million rupees, a gain from 12.2 million rupees in the prior-year period.

The normalized profit margin increased to 2.1% from 0.6% in the year-earlier period.

Total revenue declined 6.3% year over year to 1.76 billion rupees from 1.88 billion rupees, and total operating expenses decreased 9.2% on an annual basis to 1.61 billion rupees from 1.77 billion rupees.

Reported net income rose from the prior-year period to 42.2 million rupees, or 1.96 rupees per share, from 9.9 million rupees, or 46 paise per share.

As of Jan. 21, US$1 was equivalent to 61.50 Indian rupees.