Sita Shree Food Products Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 25 Indian paise per share, a decrease of 50.9% from 51 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 6.9 million rupees, a decrease of 50.7% from 14.1 million rupees in the year-earlier period.
The normalized profit margin declined to 0.3% from 0.9% in the year-earlier period.
Total revenue grew 28.8% year over year to 2.02 billion rupees from 1.57 billion rupees, and total operating expenses increased 31.0% from the prior-year period to 1.97 billion rupees from 1.50 billion rupees.
Reported net income declined 50.6% from the prior-year period to 8.9 million rupees, or 32 paise per share, from 18.0 million rupees, or 65 paise per share.
As of March 10, US$1 was equivalent to 67.07 Indian rupees.