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Ambika Cotton Mills fiscal Q3 profit climbs YOY

Ambika Cotton Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 15.47 Indian rupees per share, a gain from 15.18 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 90.9 million rupees, a gain from 89.2 million rupees in the year-earlier period.

The normalized profit margin climbed to 7.3% from 7.2% in the year-earlier period.

Total revenue came to 1.24 billion rupees, compared with 1.23 billion rupees in the prior-year period, and total operating expenses increased on an annual basis to 1.09 billion rupees from 1.05 billion rupees.

Reported net income rose on an annual basis to 113.1 million rupees, or 19.25 rupees per share, from 111.7 million rupees, or 19.01 rupees per share.

As of Feb. 5, US$1 was equivalent to 67.80 Indian rupees.