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Dhanlaxmi Fabrics fiscal Q3 profit falls YOY

Dhanlaxmi Fabrics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 26 Indian paise per share, a decline of 57.6% from 62 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 2.2 million rupees, a decrease of 58.3% from 5.3 million rupees in the year-earlier period.

The normalized profit margin fell to 1.0% from 2.6% in the year-earlier period.

Total revenue increased 9.9% year over year to 222.4 million rupees from 202.3 million rupees, and total operating expenses grew 12.8% from the prior-year period to 213.4 million rupees from 189.2 million rupees.

Reported net income declined 58.3% year over year to 3.6 million rupees, or 42 paise per share, from 8.5 million rupees, or 99 paise per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.