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Sarla Performance Fibers fiscal Q3 profit falls YOY

Sarla Performance Fibers Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 62 Indian paise per share, a decrease of 39.4% from 1.02 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 49.4 million rupees, a decline of 30.0% from 70.6 million rupees in the year-earlier period.

The normalized profit margin fell to 6.9% from 11.2% in the year-earlier period.

Total revenue grew 14.2% on an annual basis to 719.3 million rupees from 630.0 million rupees, and total operating expenses rose 21.1% from the prior-year period to 623.7 million rupees from 515.2 million rupees.

Reported net income fell 30.6% on an annual basis to 57.5 million rupees, or 72 paise per share, from 82.8 million rupees, or 1.19 rupees per share.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.