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AK Spintex fiscal Q3 profit climbs YOY

A.K. Spintex Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 26 Indian paise per share, a gain of 76.2% from 14 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 2.0 million rupees, a gain from 726,880 rupees in the prior-year period.

The normalized profit margin rose to 2.1% from 0.8% in the year-earlier period.

Total revenue increased year over year to 95.9 million rupees from 93.9 million rupees, and total operating expenses came to 89.1 million rupees, compared with 88.4 million rupees in the prior-year period.

Reported net income increased from the prior-year period to 2.2 million rupees, or 28 paise per share, from 941,000 rupees, or 19 paise per share.

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