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Goldiam International fiscal Q3 profit falls YOY

Goldiam International Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 9 Indian paise per share, a decline of 95.1% from 1.76 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 2.2 million rupees, a decline of 95.1% from 43.9 million rupees in the prior-year period.

The normalized profit margin dropped to 0.2% from 4.5% in the year-earlier period.

Total revenue decreased 8.7% on an annual basis to 894.1 million rupees from 979.6 million rupees, and total operating expenses decreased year over year to 855.5 million rupees from 888.9 million rupees.

Reported net income declined 97.6% year over year to 1.3 million rupees, or 5 paise per share, from 52.0 million rupees, or 2.08 rupees per share.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.