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KMG Milk Food fiscal Q3 profit climbs 33.6% YOY

KMG Milk Food Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 33 Indian paise per share, an increase of 32.0% from 25 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 1.8 million rupees, an increase of 33.6% from 1.3 million rupees in the prior-year period.

The normalized profit margin fell to 12.8% from 28.3% in the year-earlier period.

Total revenue climbed year over year to 13.6 million rupees from 4.6 million rupees, and total operating expenses increased year over year to 10.8 million rupees from 2.5 million rupees.

Reported net income grew 33.6% on an annual basis to 2.8 million rupees, or 53 paise per share, from 2.1 million rupees, or 40 paise per share.

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