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Relaxo Footwears fiscal Q3 profit climbs 88.3% YOY

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Relaxo Footwears fiscal Q3 profit climbs 88.3% YOY

Relaxo Footwears Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.51 Indian rupees per share, a gain of 88.8% from 80 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 181.3 million rupees, an increase of 88.3% from 96.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 5.5% from 3.7% in the year-earlier period.

Total revenue rose 27.6% year over year to 3.31 billion rupees from 2.59 billion rupees, and total operating expenses grew 25.0% on an annual basis to 2.98 billion rupees from 2.38 billion rupees.

Reported net income rose 88.2% year over year to 199.1 million rupees, or 1.66 rupees per share, from 105.8 million rupees, or 88 paise per share.

As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.