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APM Industries fiscal Q3 profit falls YOY

APM Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2.22 Indian rupees per share, a decrease from 2.29 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 47.9 million rupees, a decrease from 49.1 million rupees in the year-earlier period.

The normalized profit margin dropped to 6.4% from 6.7% in the year-earlier period.

Total revenue rose year over year to 749.0 million rupees from 728.1 million rupees, and total operating expenses increased from the prior-year period to 674.8 million rupees from 651.9 million rupees.

Reported net income increased from the prior-year period to 52.2 million rupees, or 2.42 rupees per share, from 50.9 million rupees, or 2.37 rupees per share.

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