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Indag Rubber fiscal Q3 profit climbs 11.5% YOY

Indag Rubber Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 2.28 Indian rupees per share, an increase of 11.6% from 2.04 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 59.7 million rupees, an increase of 11.5% from 53.6 million rupees in the prior-year period.

The normalized profit margin climbed to 10.0% from 9.4% in the year-earlier period.

Total revenue grew on an annual basis to 596.6 million rupees from 568.8 million rupees, and total operating expenses rose on an annual basis to 505.6 million rupees from 488.3 million rupees.

Reported net income grew 18.2% on an annual basis to 74.3 million rupees, or 2.83 rupees per share, from 62.9 million rupees, or 2.39 rupees per share.

As of Jan. 12, US$1 was equivalent to 62.07 Indian rupees.