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Bengal Tea & Fabrics fiscal Q3 profit falls YOY

Bengal Tea & Fabrics Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 43 Indian paise per share, a decline of 82.7% from 2.49 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 3.9 million rupees, a decline of 82.7% from 22.4 million rupees in the prior-year period.

The normalized profit margin dropped to 0.7% from 3.5% in the year-earlier period.

Total revenue decreased 11.7% on an annual basis to 564.1 million rupees from 638.6 million rupees, and total operating expenses fell 6.9% from the prior-year period to 548.7 million rupees from 589.2 million rupees.

Reported net income fell 50.5% from the prior-year period to 10.9 million rupees, or 1.21 rupees per share, from 22.0 million rupees, or 2.44 rupees per share.

As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.