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Concrete Credit fiscal Q3 profit falls YOY

Concrete Credit Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 15,630 rupees, a decline of 30.5% from 22,500 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.2% from 0.6% in the year-earlier period.

Total revenue increased year over year to 8.4 million rupees from 3.5 million rupees, and total operating expenses climbed on an annual basis to 8.4 million rupees from 3.5 million rupees.

Reported net income fell 52.8% from the prior-year period to 17,000 rupees, or 0 paise per share, from 36,000 rupees.

As of Feb. 10, US$1 was equivalent to 67.87 Indian rupees.