IFB Agro Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 1.26 Indian rupees per share, a decrease of 87.3% from 9.88 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 11.8 million rupees, a decline of 86.7% from 89.0 million rupees in the year-earlier period.
The normalized profit margin dropped to 0.9% from 7.2% in the year-earlier period.
Total revenue grew 11.5% on an annual basis to 1.38 billion rupees from 1.24 billion rupees, and total operating expenses climbed 24.0% on an annual basis to 1.36 billion rupees from 1.10 billion rupees.
Reported net income decreased 86.2% from the prior-year period to 12.5 million rupees, or 1.33 rupees per share, from 90.5 million rupees, or 10.05 rupees per share.
As of Jan. 21, US$1 was equivalent to 61.50 Indian rupees.
