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Jagan Lamps fiscal Q3 profit climbs YOY

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Jagan Lamps fiscal Q3 profit climbs YOY

Jagan Lamps Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 14 Indian paise per share, a gain from 5 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 980,000 rupees, a gain from 278,130 rupees in the year-earlier period.

The normalized profit margin climbed to 3.2% from 0.7% in the year-earlier period.

Total revenue declined 27.1% year over year to 30.7 million rupees from 42.2 million rupees, and total operating expenses declined 31.1% on an annual basis to 28.4 million rupees from 41.2 million rupees.

Reported net income grew year over year to 1.6 million rupees, or 22 paise per share, from 325,000 rupees, or 6 paise per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.