Tyroon Tea Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 38 Indian paise per share, a decrease of 84.8% from 2.51 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 1.3 million rupees, a decline of 84.9% from 8.5 million rupees in the prior-year period.
The normalized profit margin dropped to 1.9% from 11.8% in the year-earlier period.
Total revenue fell 5.0% year over year to 68.8 million rupees from 72.4 million rupees, and total operating expenses grew 14.2% from the prior-year period to 68.5 million rupees from 60.0 million rupees.
Reported net income decreased 84.9% year over year to 2.1 million rupees, or 61 paise per share, from 13.7 million rupees, or 4.02 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
