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Premier Synthetics fiscal Q3 profit climbs YOY

Premier Synthetics Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 38 Indian paise per share, an increase from 19 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 1.4 million rupees, a gain from 675,000 rupees in the prior-year period.

The normalized profit margin rose to 4.4% from 1.8% in the year-earlier period.

Total revenue decreased 17.8% on an annual basis to 31.6 million rupees from 38.5 million rupees, and total operating expenses fell 14.0% year over year to 29.5 million rupees from 34.3 million rupees.

Reported net income increased year over year to 2.2 million rupees, or 60 paise per share, from 1.1 million rupees, or 30 paise per share.

As of Feb. 10, US$1 was equivalent to 67.87 Indian rupees.