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Nahar Industrial Enterprises fiscal Q3 profit falls YOY

Nahar Industrial Enterprises Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 31 Indian paise per share, a decline of 93.5% from 4.81 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.5 million rupees, a decrease of 93.5% from 191.6 million rupees in the year-earlier period.

The normalized profit margin dropped to 0.3% from 4.1% in the year-earlier period.

Total revenue declined year over year to 4.43 billion rupees from 4.63 billion rupees, and total operating expenses increased year over year to 4.21 billion rupees from 4.11 billion rupees.

Reported net income came to a loss of 59.9 million rupees, or a loss of 1.50 rupees per share, compared to income of 209.6 million rupees, or 5.26 rupees per share, in the prior-year period.

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