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Kriti Nutrients fiscal Q3 profit falls YOY

Kriti Nutrients Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 21 Indian paise per share, a decrease of 69.1% from 69 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 10.7 million rupees, a decrease of 69.3% from 34.9 million rupees in the prior-year period.

The normalized profit margin declined to 1.3% from 4.2% in the year-earlier period.

Total revenue decreased on an annual basis to 827.8 million rupees from 836.3 million rupees, and total operating expenses increased year over year to 804.7 million rupees from 767.9 million rupees.

Reported net income fell 69.9% from the prior-year period to 11.5 million rupees, or 23 paise per share, from 38.2 million rupees, or 76 paise per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.