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Siyaram Silk Mills fiscal Q3 profit climbs 51.1% YOY

Siyaram Silk Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 4.39 Indian rupees per share, a gain of 51.1% from 2.90 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 205.6 million rupees, an increase of 51.1% from 136.1 million rupees in the prior-year period.

The normalized profit margin climbed to 4.9% from 4.1% in the year-earlier period.

Total revenue rose 26.7% on an annual basis to 4.16 billion rupees from 3.28 billion rupees, and total operating expenses rose 25.0% from the prior-year period to 3.79 billion rupees from 3.03 billion rupees.

Reported net income grew 60.0% from the prior-year period to 208.6 million rupees, or 4.45 rupees per share, from 130.4 million rupees, or 2.78 rupees per share.

As of Jan. 22, US$1 was equivalent to 67.58 Indian rupees.