Butterfly Gandhimathi Appliances Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 15 Indian paise per share, a decline of 94.9% from 3.02 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 2.8 million rupees, a decline of 94.8% from 54.0 million rupees in the prior-year period.
The normalized profit margin dropped to 0.2% from 2.2% in the year-earlier period.
Total revenue decreased 51.2% on an annual basis to 1.17 billion rupees from 2.40 billion rupees, and total operating expenses fell 50.5% on an annual basis to 1.11 billion rupees from 2.24 billion rupees.
Reported net income declined 95.1% on an annual basis to 2.9 million rupees, or 16 paise per share, from 58.8 million rupees, or 3.29 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
