Ginni Filaments Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 31 Indian paise per share, a decrease of 78.7% from 1.43 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 23.3 million rupees, a decline of 77.3% from 102.7 million rupees in the prior-year period.
The normalized profit margin fell to 1.2% from 4.4% in the year-earlier period.
Total revenue fell 15.3% year over year to 1.97 billion rupees from 2.32 billion rupees, and total operating expenses decreased 12.4% from the prior-year period to 1.82 billion rupees from 2.08 billion rupees.
Reported net income decreased 76.7% from the prior-year period to 22.9 million rupees, or 30 paise per share, from 98.1 million rupees, or 1.37 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
