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Tyroon Tea fiscal Q3 profit climbs YOY

Tyroon Tea Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 5.20 Indian rupees per share, an increase from 38 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.7 million rupees, an increase from 1.3 million rupees in the prior-year period.

The normalized profit margin climbed to 18.5% from 1.9% in the year-earlier period.

Total revenue climbed 39.1% on an annual basis to 95.6 million rupees from 68.8 million rupees, and total operating expenses rose 6.3% on an annual basis to 72.8 million rupees from 68.5 million rupees.

Reported net income grew year over year to 28.3 million rupees, or 8.32 rupees per share, from 2.1 million rupees, or 61 paise per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.