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Sintex Industries fiscal Q3 profit climbs 26.7% YOY

Sintex Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2.95 Indian rupees per share, an increase from 2.86 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.13 billion rupees, a gain of 26.7% from 889.5 million rupees in the year-earlier period.

The normalized profit margin declined to 6.2% from 6.5% in the year-earlier period.

Total revenue increased 32.7% year over year to 18.26 billion rupees from 13.76 billion rupees, and total operating expenses rose 33.8% from the prior-year period to 15.94 billion rupees from 11.91 billion rupees.

Reported net income rose 91.3% year over year to 1.62 billion rupees, or 4.24 rupees per share, from 847.1 million rupees, or 2.72 rupees per share.

As of Jan. 28, US$1 was equivalent to 61.32 Indian rupees.