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Renaissance Jewellery fiscal Q3 profit climbs 71.8% YOY

Renaissance Jewellery Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 10.50 Indian rupees per share, an increase of 71.8% from 6.12 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 200.5 million rupees, an increase of 71.8% from 116.7 million rupees in the prior-year period.

The normalized profit margin rose to 3.9% from 2.8% in the year-earlier period.

Total revenue climbed 25.8% on an annual basis to 5.16 billion rupees from 4.10 billion rupees, and total operating expenses grew 25.3% on an annual basis to 4.86 billion rupees from 3.88 billion rupees.

Reported net income increased 87.9% year over year to 283.2 million rupees, or 14.84 rupees per share, from 150.8 million rupees, or 7.90 rupees per share.

As of Jan. 28, US$1 was equivalent to 61.32 Indian rupees.