Warren Tea Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.27 Indian rupees per share, a decline of 56.8% from 5.26 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 27.2 million rupees, a decline of 56.8% from 62.9 million rupees in the year-earlier period.
The normalized profit margin dropped to 6.4% from 13.3% in the year-earlier period.
Total revenue decreased 11.0% year over year to 422.1 million rupees from 474.1 million rupees, and total operating expenses rose from the prior-year period to 379.9 million rupees from 374.7 million rupees.
Reported net income decreased 56.8% from the prior-year period to 43.5 million rupees, or 3.64 rupees per share, from 100.6 million rupees, or 8.42 rupees per share.
As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.
