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Saint-Gobain Sekurit India swings to profit in fiscal Q3

Saint-Gobain Sekurit India Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 15 Indian paise per share, compared with a loss of 3 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.3 million rupees, compared with a loss of 2.2 million rupees in the year-earlier period.

The normalized profit margin climbed to 4.1% from negative 0.9% in the year-earlier period.

Total revenue grew 32.8% year over year to 325.0 million rupees from 244.7 million rupees, and total operating expenses grew 22.5% from the prior-year period to 304.1 million rupees from 248.2 million rupees.

Reported net income totaled 16.4 million rupees, or 18 paise per share, compared to a loss of 3.5 million rupees, or a loss of 4 paise per share, in the prior-year period.

As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.