Hatsun Agro Product Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 55 Indian paise per share, a decrease of 58.7% from 1.33 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 83.6 million rupees, a decrease of 58.4% from 201.1 million rupees in the year-earlier period.
The normalized profit margin dropped to 1.2% from 3.2% in the year-earlier period.
Total revenue rose 13.3% on an annual basis to 7.13 billion rupees from 6.30 billion rupees, and total operating expenses rose 15.9% year over year to 6.85 billion rupees from 5.91 billion rupees.
Reported net income declined 58.3% from the prior-year period to 128.9 million rupees, or 85 paise per share, from 308.9 million rupees, or 2.05 rupees per share.
As of Jan. 27, US$1 was equivalent to 61.36 Indian rupees.
