Gini Silk Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 3.4 million rupees, a decrease of 12.9% from 3.9 million rupees in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 4.5% from 5.6% in the year-earlier period.
Total revenue climbed 10.2% on an annual basis to 76.4 million rupees from 69.3 million rupees, and total operating expenses grew 11.4% year over year to 72.0 million rupees from 64.6 million rupees.
Reported net income decreased 12.9% year over year to 5.4 million rupees, or 98 paise per share, from 6.2 million rupees.
As of Feb. 9, US$1 was equivalent to 62.14 Indian rupees.
