Cheviot Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 13.47 Indian rupees per share, an increase of 12.5% from 11.97 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 60.8 million rupees, a gain of 12.5% from 54.0 million rupees in the year-earlier period.
The normalized profit margin rose to 11.6% from 7.8% in the year-earlier period.
Total revenue decreased 24.3% on an annual basis to 523.7 million rupees from 692.0 million rupees, and total operating expenses fell 21.4% from the prior-year period to 486.5 million rupees from 618.7 million rupees.
Reported net income grew 37.4% from the prior-year period to 82.4 million rupees, or 18.27 rupees per share, from 60.0 million rupees, or 13.30 rupees per share.
As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.
