S & T Corp. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 110,000 rupees, a decrease of 80.1% from 553,130 rupees in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to 33.7% from 7.9% in the year-earlier period.
Total revenue declined 95.4% year over year to 326,000 rupees from 7.0 million rupees, and total operating expenses declined 57.4% from the prior-year period to 2.4 million rupees from 5.6 million rupees.
Reported net income came to 176,000 rupees, compared with 885,000 rupees in the year-earlier period.
As of Feb. 4, US$1 was equivalent to 67.50 Indian rupees.