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Sarla Performance Fibers fiscal Q3 profit climbs 91.6% YOY

Sarla Performance Fibers Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 1.13 Indian rupees per share, an increase of 84.4% from 62 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 94.7 million rupees, a gain of 91.6% from 49.4 million rupees in the prior-year period.

The normalized profit margin rose to 12.8% from 6.9% in the year-earlier period.

Total revenue rose on an annual basis to 738.4 million rupees from 719.3 million rupees, and total operating expenses fell on an annual basis to 604.0 million rupees from 623.7 million rupees.

Reported net income rose on an annual basis to 150.3 million rupees, or 1.80 rupees per share, from 57.5 million rupees, or 72 paise per share.

As of Jan. 22, US$1 was equivalent to 67.58 Indian rupees.