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Divinus Fabrics fiscal Q3 profit falls YOY

Divinus Fabrics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 6,250 rupees, a fall of 90.6% from 66,250 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.1% from 0.5% in the year-earlier period.

Total revenue decreased 40.0% on an annual basis to 7.5 million rupees from 12.6 million rupees, and total operating expenses declined 39.6% on an annual basis to 7.5 million rupees from 12.5 million rupees.

Reported net income decreased 90.4% on an annual basis to 7,000 rupees, or 0 paise per share, from 73,000 rupees, or 2 paise per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.