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Atharv Enterprises fiscal Q3 profit falls YOY

Atharv Enterprises Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 713,560 rupees, a decline of 18.4% from 874,510 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 6.1% from 7.4% in the year-earlier period.

Total revenue declined year over year to 11.7 million rupees from 11.8 million rupees, and total operating expenses declined 23.3% year over year to 10.5 million rupees from 13.8 million rupees.

Reported net income totaled 776,700 rupees, compared with 939,210 rupees, or 1 paise per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.