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Shree Bhavya Fabrics fiscal Q3 profit climbs 29.0% YOY

Shree Bhavya Fabrics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 475,000 rupees, a rise of 29.0% from 368,130 rupees in the prior-year period.

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

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

Total revenue grew 11.7% year over year to 621.2 million rupees from 556.1 million rupees, and total operating expenses climbed 10.8% on an annual basis to 595.0 million rupees from 536.8 million rupees.

Reported net income grew 29.0% year over year to 760,000 rupees, or 8 paise per share, from 589,000 rupees.

As of March 30, US$1 was equivalent to 62.55 Indian rupees.