Asian Star Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 6.66 Indian rupees per share, a decline of 44.9% from 12.09 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 106.5 million rupees, a decline of 45.0% from 193.6 million rupees in the year-earlier period.
The normalized profit margin declined to 1.5% from 2.0% in the year-earlier period.
Total revenue declined 28.6% on an annual basis to 7.09 billion rupees from 9.92 billion rupees, and total operating expenses declined 28.4% on an annual basis to 6.84 billion rupees from 9.55 billion rupees.
Reported net income fell 26.6% on an annual basis to 197.2 million rupees, or 12.32 rupees per share, from 268.5 million rupees, or 16.77 rupees per share.
As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.
