Deepak Spinners Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 3.01 Indian rupees per share, a decline of 51.7% from 6.23 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 21.7 million rupees, a decline of 51.5% from 44.8 million rupees in the year-earlier period.
The normalized profit margin fell to 2.1% from 4.4% in the year-earlier period.
Total revenue rose on an annual basis to 1.05 billion rupees from 1.01 billion rupees, and total operating expenses increased 8.5% on an annual basis to 995.7 million rupees from 917.3 million rupees.
Reported net income declined 29.8% from the prior-year period to 29.9 million rupees, or 4.15 rupees per share, from 42.6 million rupees, or 5.93 rupees per share.
As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.
