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SVP Global Ventures fiscal Q3 profit climbs 7.3% YOY

SVP Global Ventures Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 73,750 rupees, a gain of 7.3% from 68,750 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.7% from 0.5% in the year-earlier period.

Total revenue fell 82.2% on an annual basis to 2.7 million rupees from 15.1 million rupees, and total operating expenses declined 82.8% on an annual basis to 2.6 million rupees from 15.0 million rupees.

Reported net income increased 7.3% on an annual basis to 118,000 rupees, or 1 paise per share, from 110,000 rupees, or 1 paise per share.

As of Feb. 2, US$1 was equivalent to 61.72 Indian rupees.