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SVP Global Ventures fiscal Q3 profit climbs YOY

SVP Global Ventures Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 19.3 million rupees, an increase from 73,750 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 declined to 0.6% from 2.7% in the year-earlier period.

Total revenue climbed year over year to 3.34 billion rupees from 2.7 million rupees, and total operating expenses increased from the prior-year period to 3.23 billion rupees from 2.6 million rupees.

Reported net income grew from the prior-year period to 21.5 million rupees, or 1.70 rupees per share, from 118,000 rupees, or 1 paise per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.