Suryaamba Spinning Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.67 Indian rupees per share, an increase from 1.05 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.4 million rupees, an increase of 41.1% from 3.1 million rupees in the year-earlier period.
The normalized profit margin increased to 1.4% from 0.7% in the year-earlier period.
Total revenue fell 26.6% year over year to 319.7 million rupees from 435.8 million rupees, and total operating expenses declined 27.5% from the prior-year period to 306.5 million rupees from 422.7 million rupees.
Reported net income grew 41.1% on an annual basis to 7.0 million rupees, or 4.28 rupees per share, from 4.9 million rupees, or 1.68 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
