Nitin Spinners Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.93 Indian rupees per share, a gain from 1.91 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 88.6 million rupees, a gain from 87.4 million rupees in the prior-year period.
The normalized profit margin dropped to 5.5% from 6.7% in the year-earlier period.
Total revenue climbed 23.4% on an annual basis to 1.60 billion rupees from 1.30 billion rupees, and total operating expenses rose 26.6% from the prior-year period to 1.41 billion rupees from 1.12 billion rupees.
Reported net income increased 15.7% on an annual basis to 105.0 million rupees, or 2.29 rupees per share, from 90.8 million rupees, or 1.98 rupees per share.
As of Feb. 9, US$1 was equivalent to 62.14 Indian rupees.
