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Jagan Lamps fiscal Q3 profit climbs 19.0% YOY

Jagan Lamps Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 5 Indian paise per share, a gain of 64.3% from 3 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 278,130 rupees, an increase of 19.0% from 233,750 rupees in the year-earlier period.

The normalized profit margin climbed to 0.7% from 0.5% in the year-earlier period.

Total revenue declined 6.5% year over year to 42.2 million rupees from 45.1 million rupees, and total operating expenses fell 9.6% year over year to 41.2 million rupees from 45.5 million rupees.

Reported net income declined 13.1% on an annual basis to 325,000 rupees, or 6 paise per share, from 374,000 rupees, or 5 paise per share.

As of March 9, US$1 was equivalent to 62.67 Indian rupees.