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Kewal Kiran Clothing fiscal Q3 profit climbs YOY

Kewal Kiran Clothing Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 8.21 Indian rupees per share, an increase from 7.99 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 101.3 million rupees, a gain from 98.4 million rupees in the prior-year period.

The normalized profit margin dropped to 10.6% from 11.2% in the year-earlier period.

Total revenue increased 8.8% year over year to 954.3 million rupees from 876.8 million rupees, and total operating expenses grew 9.8% on an annual basis to 792.6 million rupees from 721.6 million rupees.

Reported net income grew year over year to 106.7 million rupees, or 8.65 rupees per share, from 104.4 million rupees, or 8.47 rupees per share.

As of Feb. 5, US$1 was equivalent to 67.80 Indian rupees.