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Swasti Vinayaka Synthetics fiscal Q3 profit climbs 41.2% YOY

Swasti Vinayaka Synthetics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 4 Indian paise per share, an increase of 50.0% from 3 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 2.6 million rupees, a gain of 41.2% from 1.8 million rupees in the prior-year period.

The normalized profit margin increased to 6.2% from 4.5% in the year-earlier period.

Total revenue increased on an annual basis to 41.3 million rupees from 40.5 million rupees, and total operating expenses fell on an annual basis to 36.1 million rupees from 36.8 million rupees.

Reported net income increased 41.2% on an annual basis to 4.1 million rupees, or 6 paise per share, from 2.9 million rupees, or 4 paise per share.

As of Jan. 21, US$1 was equivalent to 67.91 Indian rupees.