Vijay Solvex Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.15 Indian rupees per share, a decrease of 65.6% from 6.25 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 6.9 million rupees, a decline of 65.6% from 20.0 million rupees in the year-earlier period.
The normalized profit margin fell to 0.4% from 0.8% in the year-earlier period.
Total revenue decreased 31.7% on an annual basis to 1.78 billion rupees from 2.60 billion rupees, and total operating expenses fell 32.0% on an annual basis to 1.75 billion rupees from 2.57 billion rupees.
Reported net income declined 64.1% on an annual basis to 8.2 million rupees, or 2.56 rupees per share, from 22.9 million rupees, or 7.15 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
