Tai Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 14 Indian paise per share, a decrease of 20.6% from 18 paise per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 818,750 rupees, a decrease of 22.8% from 1.1 million rupees in the prior-year period.
The normalized profit margin declined to 0.7% from 0.9% in the year-earlier period.
Total revenue decreased 8.6% on an annual basis to 111.7 million rupees from 122.2 million rupees, and total operating expenses fell 9.9% year over year to 118.0 million rupees from 131.0 million rupees.
Reported net income decreased 37.4% on an annual basis to 1.1 million rupees, or 18 paise per share, from 1.7 million rupees, or 28 paise per share.
As of Feb. 5, US$1 was equivalent to 61.74 Indian rupees.
