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Spectrum Foods fiscal Q3 profit falls YOY

Spectrum Foods Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2 Indian paise per share, a decrease of 75.0% from 8 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 91,250 rupees, a decline of 49.7% from 181,250 rupees in the year-earlier period.

The normalized profit margin fell to 2.7% from 5.5% in the year-earlier period.

Total revenue increased year over year to 3.4 million rupees from 3.3 million rupees, and total operating expenses increased year over year to 3.2 million rupees from 1.1 million rupees.

Reported net income decreased 49.7% from the prior-year period to 146,000 rupees, or 3 paise per share, from 290,000 rupees, or 12 paise per share.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.