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Asahi Industries profit holds relatively steady YOY in fiscal Q3

Asahi Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 3 Indian paise per share, compared with 3 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 1.9 million rupees, compared with 1.9 million rupees in the prior-year period.

The normalized profit margin fell to 0.2% from 0.3% in the year-earlier period.

Total revenue increased 38.1% year over year to 912.7 million rupees from 660.9 million rupees, and total operating expenses rose 38.5% year over year to 906.3 million rupees from 654.3 million rupees.

Reported net income came to 2.4 million rupees, or 4 paise per share, compared to 2.4 million rupees, or 4 paise per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.