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Sutlej Textiles & Industries fiscal Q3 profit falls YOY

Sutlej Textiles & Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.34 Indian rupees per share, a decline of 36.6% from 2.11 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 218.8 million rupees, a decline of 36.7% from 345.5 million rupees in the year-earlier period.

The normalized profit margin fell to 4.8% from 7.4% in the year-earlier period.

Total revenue fell on an annual basis to 4.59 billion rupees from 4.64 billion rupees, and total operating expenses climbed year over year to 4.20 billion rupees from 4.08 billion rupees.

Reported net income decreased 45.3% from the prior-year period to 218.2 million rupees, or 1.33 rupees per share, from 399.0 million rupees, or 2.44 rupees per share.

As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.