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Valson Industries fiscal Q3 profit climbs 23.3% YOY

Valson Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 33 Indian paise per share, an increase of 20.9% from 28 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.6 million rupees, a gain of 23.3% from 2.1 million rupees in the year-earlier period.

The normalized profit margin rose to 1.0% from 0.8% in the year-earlier period.

Total revenue totaled 258.5 million rupees, compared with 256.7 million rupees in the prior-year period, and total operating expenses climbed from the prior-year period to 251.5 million rupees from 248.7 million rupees.

Reported net income rose 19.6% year over year to 2.6 million rupees, or 34 paise per share, from 2.2 million rupees, or 29 paise per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.