Grob Tea Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 11.53 Indian rupees per share, a decline of 34.6% from 17.63 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 13.4 million rupees, a decrease of 34.6% from 20.5 million rupees in the prior-year period.
The normalized profit margin declined to 7.7% from 9.8% in the year-earlier period.
Total revenue declined 16.7% year over year to 173.4 million rupees from 208.2 million rupees, and total operating expenses decreased 13.8% on an annual basis to 153.2 million rupees from 177.7 million rupees.
Reported net income fell 34.6% on an annual basis to 21.4 million rupees, or 18.44 rupees per share, from 32.8 million rupees, or 28.21 rupees per share.
As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.
