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Remsons Industries fiscal Q3 profit falls YOY

Remsons Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 25,630 rupees, a decline of 99.6% from 6.6 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 0.0% from 2.2% in the year-earlier period.

Total revenue rose year over year to 314.1 million rupees from 307.5 million rupees, and total operating expenses climbed 5.0% year over year to 308.4 million rupees from 293.8 million rupees.

Reported net income decreased 92.9% year over year to 496,000 rupees, or 9 paise per share, from 7.0 million rupees, or 1.22 rupees per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.