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Ajanta Soya fiscal Q3 profit falls YOY

Ajanta Soya Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 10 Indian paise per share, a decrease of 48.4% from 19 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.5 million rupees, a decline of 46.7% from 2.8 million rupees in the prior-year period.

The normalized profit margin declined to 0.1% from 0.2% in the year-earlier period.

Total revenue declined 9.8% year over year to 1.25 billion rupees from 1.39 billion rupees, and total operating expenses decreased 9.9% from the prior-year period to 1.25 billion rupees from 1.39 billion rupees.

Reported net income fell 42.1% on an annual basis to 2.2 million rupees, or 14 paise per share, from 3.8 million rupees, or 25 paise per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.