Nahar Spinning Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 1.50 Indian rupees per share, a decrease of 83.0% from 8.84 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 54.3 million rupees, a decrease of 83.0% from 318.9 million rupees in the prior-year period.
The normalized profit margin fell to 1.0% from 6.0% in the year-earlier period.
Total revenue increased year over year to 5.48 billion rupees from 5.31 billion rupees, and total operating expenses rose 12.0% year over year to 5.25 billion rupees from 4.69 billion rupees.
Reported net income decreased 83.0% on an annual basis to 57.4 million rupees, or 1.59 rupees per share, from 337.0 million rupees, or 9.34 rupees per share.
As of Feb. 3, US$1 was equivalent to 61.67 Indian rupees.
