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Saboo Sodium Chloro fiscal Q3 profit falls YOY

Saboo Sodium Chloro Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1 Indian paise per share, a decrease of 95.1% from 26 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 296,880 rupees, a decline of 94.0% from 4.9 million rupees in the prior-year period.

The normalized profit margin dropped to 0.7% from 10.5% in the year-earlier period.

Total revenue fell 11.7% on an annual basis to 41.4 million rupees from 46.9 million rupees, and total operating expenses fell on an annual basis to 37.9 million rupees from 38.8 million rupees.

Reported net income decreased 94.0% on an annual basis to 475,000 rupees, or 2 paise per share, from 7.9 million rupees, or 41 paise per share.

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