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Arex Industries fiscal Q3 profit climbs YOY

Arex Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 1.92 Indian rupees per share, a gain from 1.84 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.6 million rupees, an increase from 7.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 9.4% from 8.3% in the year-earlier period.

Total revenue declined 8.0% year over year to 80.6 million rupees from 87.6 million rupees, and total operating expenses decreased 9.2% year over year to 66.6 million rupees from 73.4 million rupees.

Reported net income increased 7.8% year over year to 8.4 million rupees, or 2.13 rupees per share, from 7.8 million rupees, or 1.97 rupees per share.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.