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Sportking India fiscal Q3 profit climbs YOY

Sportking India Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 15.65 Indian rupees per share, an increase from 7.76 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 55.7 million rupees, an increase from 27.6 million rupees in the year-earlier period.

The normalized profit margin rose to 2.2% from 1.1% in the year-earlier period.

Total revenue climbed 5.9% on an annual basis to 2.56 billion rupees from 2.42 billion rupees, and total operating expenses increased 7.8% from the prior-year period to 2.35 billion rupees from 2.18 billion rupees.

Reported net income rose on an annual basis to 89.2 million rupees, or 25.04 rupees per share, from 44.2 million rupees, or 12.42 rupees per share.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.