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Binny Mills fiscal Q3 profit falls YOY

Binny Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 51 Indian paise per share, compared with 51 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 1.6 million rupees, a decline from 1.6 million rupees in the prior-year period.

The normalized profit margin fell to 8.0% from 8.4% in the year-earlier period.

Total revenue climbed year over year to 20.0 million rupees from 19.2 million rupees, and total operating expenses climbed 5.1% from the prior-year period to 17.5 million rupees from 16.6 million rupees.

Reported net income increased 5.9% on an annual basis to 1.8 million rupees, or 57 paise per share, from 1.7 million rupees, or 53 paise per share.

As of Jan. 29, US$1 was equivalent to 67.85 Indian rupees.