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Rajesh Exports fiscal Q3 profit climbs 86.8% YOY

Rajesh Exports Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 3.63 Indian rupees per share, a gain of 87.1% from 1.94 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 1.07 billion rupees, a gain of 86.8% from 572.9 million rupees in the year-earlier period.

The normalized profit margin declined to 0.9% from 1.1% in the year-earlier period.

Total revenue climbed on an annual basis to 124.32 billion rupees from 50.23 billion rupees, and total operating expenses rose from the prior-year period to 121.70 billion rupees from 48.51 billion rupees.

Reported net income grew 86.8% from the prior-year period to 1.71 billion rupees, or 5.80 rupees per share, from 916.7 million rupees, or 3.10 rupees per share.

As of Feb. 16, US$1 was equivalent to 62.15 Indian rupees.