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Lakhotia Polyesters India fiscal Q3 profit climbs 15.7% YOY

Lakhotia Polyesters India Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 2 Indian paise per share, compared with 2 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 225,630 rupees, a gain of 15.7% from 195,000 rupees in the prior-year period.

The normalized profit margin increased to 0.5% from 0.5% in the year-earlier period.

Total revenue grew 8.3% year over year to 44.7 million rupees from 41.3 million rupees, and total operating expenses rose 9.0% year over year to 43.3 million rupees from 39.8 million rupees.

Reported net income totaled 249,000 rupees, or 2 paise per share, compared to 216,000 rupees, or 2 paise per share, in the prior-year period.

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