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Swasti Vinayaka Synthetics fiscal Q3 profit climbs 10.9% YOY

Swasti Vinayaka Synthetics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 3 Indian paise per share, compared with 3 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 1.8 million rupees, an increase of 10.9% from 1.6 million rupees in the year-earlier period.

The normalized profit margin rose to 4.5% from 3.9% in the year-earlier period.

Total revenue decreased on an annual basis to 40.5 million rupees from 42.4 million rupees, and total operating expenses declined 6.6% year over year to 36.8 million rupees from 39.4 million rupees.

Reported net income totaled 2.9 million rupees, or 4 paise per share, compared to 2.6 million rupees, or 4 paise per share, in the prior-year period.

As of Jan. 22, US$1 was equivalent to 61.40 Indian rupees.