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Goodricke Group Q3 profit climbs 13.3% YOY

Goodricke Group Ltd. said its normalized net income for the third quarter was 15.45 Indian rupees per share, a gain of 13.3% from 13.64 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 333.8 million rupees, an increase of 13.3% from 294.6 million rupees in the prior-year period.

The normalized profit margin fell to 19.3% from 19.9% in the year-earlier period.

Total revenue grew 17.1% on an annual basis to 1.73 billion rupees from 1.48 billion rupees, and total operating expenses grew 18.6% from the prior-year period to 1.22 billion rupees from 1.03 billion rupees.

Reported net income grew 13.3% from the prior-year period to 534.0 million rupees, or 24.72 rupees per share, from 471.3 million rupees, or 21.82 rupees per share.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.