Bannari Amman Sugars Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 75 Indian paise per share, a decrease of 77.9% from 3.39 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.6 million rupees, a decline of 78.0% from 38.8 million rupees in the prior-year period.
The normalized profit margin declined to 0.6% from 2.0% in the year-earlier period.
Total revenue decreased 31.2% year over year to 1.33 billion rupees from 1.94 billion rupees, and total operating expenses decreased 36.9% on an annual basis to 1.08 billion rupees from 1.70 billion rupees.
Reported net income fell 82.1% on an annual basis to 11.5 million rupees, or 1.01 rupees per share, from 64.4 million rupees, or 5.63 rupees per share.
As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.
