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Prima Industries fiscal Q3 profit climbs YOY

Prima Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 4.5 million rupees, a gain from 340,000 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 13.9% from 0.5% in the year-earlier period.

Total revenue fell 55.7% on an annual basis to 32.2 million rupees from 72.6 million rupees, and total operating expenses declined 65.2% year over year to 25.1 million rupees from 72.1 million rupees.

Reported net income increased on an annual basis to 7.2 million rupees, or 66 paise per share, from 544,000 rupees.

As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.