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Mirza International fiscal Q3 profit falls YOY

Mirza International Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 1.56 Indian rupees per share, a decline from 1.61 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 144.3 million rupees, a decrease from 148.5 million rupees in the year-earlier period.

The normalized profit margin rose to 6.7% from 6.5% in the year-earlier period.

Total revenue fell 5.8% year over year to 2.16 billion rupees from 2.30 billion rupees, and total operating expenses decreased on an annual basis to 1.88 billion rupees from 1.95 billion rupees.

Reported net income declined from the prior-year period to 150.9 million rupees, or 1.63 rupees per share, from 155.3 million rupees, or 1.68 rupees per share.

As of Jan. 27, US$1 was equivalent to 68.10 Indian rupees.