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Filatex India fiscal Q3 profit climbs 73.7% YOY

Filatex India Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 40 Indian paise per share, a gain of 76.1% from 23 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 12.8 million rupees, a gain of 73.7% from 7.4 million rupees in the year-earlier period.

The normalized profit margin rose to 0.4% from 0.2% in the year-earlier period.

Total revenue decreased 22.0% on an annual basis to 2.99 billion rupees from 3.83 billion rupees, and total operating expenses decreased 23.0% from the prior-year period to 2.86 billion rupees from 3.71 billion rupees.

Reported net income rose from the prior-year period to 57.4 million rupees, or 1.79 rupees per share, from 7.8 million rupees, or 24 paise per share.

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