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Shri Jagdamba Polymers fiscal Q3 profit climbs 7.3% YOY

Shri Jagdamba Polymers Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 70 Indian paise per share, a gain of 7.3% from 65 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.1 million rupees, an increase of 7.3% from 5.7 million rupees in the prior-year period.

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

Total revenue increased 8.2% year over year to 219.2 million rupees from 202.6 million rupees, and total operating expenses grew 5.3% year over year to 200.8 million rupees from 190.6 million rupees.

Reported net income decreased from the prior-year period to 7.3 million rupees, or 83 paise per share, from 7.5 million rupees, or 86 paise per share.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.