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Vippy Spinpro fiscal Q3 profit climbs YOY

Vippy Spinpro Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.56 Indian rupees per share, an increase from 1.52 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.1 million rupees, an increase from 8.7 million rupees in the prior-year period.

The normalized profit margin rose to 4.0% from 3.6% in the year-earlier period.

Total revenue decreased 6.8% on an annual basis to 226.5 million rupees from 243.0 million rupees, and total operating expenses fell 7.6% from the prior-year period to 211.2 million rupees from 228.7 million rupees.

Reported net income rose year over year to 10.1 million rupees, or 1.73 rupees per share, from 9.8 million rupees, or 1.70 rupees per share.

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