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Hisar Spinning Mills fiscal Q3 profit climbs 27.0% YOY

Hisar Spinning Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 43 Indian paise per share, an increase of 28.7% from 34 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.6 million rupees, a gain of 27.0% from 1.3 million rupees in the year-earlier period.

The normalized profit margin rose to 2.9% from 2.0% in the year-earlier period.

Total revenue decreased 10.9% year over year to 56.8 million rupees from 63.8 million rupees, and total operating expenses decreased 13.1% year over year to 53.1 million rupees from 61.1 million rupees.

Reported net income increased from the prior-year period to 1.8 million rupees, or 48 paise per share, from 418,000 rupees, or 11 paise per share.

As of Jan. 15, US$1 was equivalent to 67.78 Indian rupees.