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Tuni Textile Mills fiscal Q3 profit climbs 92.6% YOY

Tuni Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 520,000 rupees, a rise of 92.6% from 270,000 rupees in the prior-year period.

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

The normalized profit margin climbed to 1.2% from 0.5% in the year-earlier period.

Total revenue decreased 29.6% on an annual basis to 41.6 million rupees from 59.1 million rupees, and total operating expenses decreased 31.6% from the prior-year period to 39.0 million rupees from 57.0 million rupees.

Reported net income rose year over year to 695,000 rupees, or 1 paisa per share, from 325,000 rupees, or 0 paise per share.

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