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Rasoya Proteins fiscal Q3 profit falls YOY

Rasoya Proteins Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1 Indian paise per share, a decrease of 85.2% from 9 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.6 million rupees, a decrease of 84.8% from 141.7 million rupees in the prior-year period.

The normalized profit margin declined to 1.2% from 2.1% in the year-earlier period.

Total revenue declined 73.4% on an annual basis to 1.78 billion rupees from 6.69 billion rupees, and total operating expenses decreased 74.8% on an annual basis to 1.60 billion rupees from 6.35 billion rupees.

Reported net income decreased 81.3% year over year to 34.1 million rupees, or 2 paise per share, from 182.3 million rupees, or 11 paise per share.

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