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Virtual Global Education fiscal Q3 profit climbs 34.4% YOY

Virtual Global Education Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 281,720 rupees, a rise of 34.4% from 209,620 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 1.0% from 1.0% in the year-earlier period.

Total revenue increased 33.5% on an annual basis to 29.2 million rupees from 21.9 million rupees, and total operating expenses rose 32.9% year over year to 28.6 million rupees from 21.5 million rupees.

Reported net income came to 450,760 rupees, compared with 335,390 rupees in the year-earlier period.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.