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Indian Terrain Fashions fiscal Q3 profit climbs 83.2% YOY

Indian Terrain Fashions Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 1.57 Indian rupees per share, an increase of 47.2% from 1.07 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 56.6 million rupees, an increase of 83.2% from 30.9 million rupees in the prior-year period.

The normalized profit margin rose to 7.4% from 4.7% in the year-earlier period.

Total revenue grew 15.2% on an annual basis to 761.6 million rupees from 660.9 million rupees, and total operating expenses increased 12.6% from the prior-year period to 661.4 million rupees from 587.2 million rupees.

Reported net income grew 83.2% year over year to 90.5 million rupees, or 2.52 rupees per share, from 49.4 million rupees, or 1.71 rupees per share.

As of Feb. 10, US$1 was equivalent to 67.87 Indian rupees.