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Orient Beverages fiscal Q3 profit climbs YOY

Orient Beverages Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 1.08 Indian rupees per share, an increase from 35 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.4 million rupees, a gain from 750,000 rupees in the year-earlier period.

The normalized profit margin climbed to 2.9% from 1.1% in the year-earlier period.

Total revenue increased 26.5% on an annual basis to 83.0 million rupees from 65.6 million rupees, and total operating expenses grew 25.2% on an annual basis to 79.6 million rupees from 63.6 million rupees.

Reported net income rose on an annual basis to 3.2 million rupees, or 1.46 rupees per share, from 1.2 million rupees, or 56 paise per share.

As of Feb. 11, US$1 was equivalent to 68.37 Indian rupees.