Nagreeka Exports Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 23 Indian paise per share, a decline of 77.3% from 1.02 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 2.9 million rupees, a decline of 77.4% from 12.8 million rupees in the year-earlier period.
The normalized profit margin declined to 0.2% from 0.9% in the year-earlier period.
Total revenue decreased on an annual basis to 1.34 billion rupees from 1.38 billion rupees, and total operating expenses declined from the prior-year period to 1.28 billion rupees from 1.34 billion rupees.
Reported net income fell 77.4% year over year to 4.6 million rupees, or 37 paise per share, from 20.4 million rupees, or 1.63 rupees per share.
As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.
