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.
