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Winsome Textile Industries fiscal Q3 profit falls YOY

Winsome Textile Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 61 Indian paise per share, a decline of 57.1% from 1.41 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 12.0 million rupees, a decline of 57.1% from 28.0 million rupees in the year-earlier period.

The normalized profit margin dropped to 0.8% from 2.0% in the year-earlier period.

Total revenue climbed 16.2% year over year to 1.60 billion rupees from 1.37 billion rupees, and total operating expenses increased 19.1% on an annual basis to 1.44 billion rupees from 1.21 billion rupees.

Reported net income declined 57.1% year over year to 19.2 million rupees, or 97 paise per share, from 44.8 million rupees, or 2.26 rupees per share.

As of Feb. 9, US$1 was equivalent to 67.92 Indian rupees.