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IntraSoft Technologies fiscal Q3 profit climbs 61.2% YOY

IntraSoft Technologies Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 3.08 Indian rupees per share, a gain of 60.9% from 1.91 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 45.4 million rupees, a gain of 61.2% from 28.2 million rupees in the prior-year period.

The normalized profit margin dropped to 1.8% from 2.3% in the year-earlier period.

Total revenue rose on an annual basis to 2.59 billion rupees from 1.23 billion rupees, and total operating expenses increased from the prior-year period to 2.51 billion rupees from 1.19 billion rupees.

Reported net income increased 24.7% from the prior-year period to 51.7 million rupees, or 3.51 rupees per share, from 41.5 million rupees, or 2.82 rupees per share.

As of Feb. 3, US$1 was equivalent to 68.01 Indian rupees.