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Relaxo Footwears fiscal Q3 profit climbs 24.9% YOY

Relaxo Footwears Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 1.88 Indian rupees per share, an increase of 24.5% from 1.51 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 226.5 million rupees, an increase of 24.9% from 181.3 million rupees in the year-earlier period.

The normalized profit margin increased to 5.9% from 5.5% in the year-earlier period.

Total revenue increased 16.6% on an annual basis to 3.86 billion rupees from 3.31 billion rupees, and total operating expenses grew 15.4% from the prior-year period to 3.44 billion rupees from 2.98 billion rupees.

Reported net income increased 22.7% on an annual basis to 244.2 million rupees, or 2.03 rupees per share, from 199.1 million rupees, or 1.66 rupees per share.

As of Jan. 29, US$1 was equivalent to 67.85 Indian rupees.