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Seasons Textiles fiscal Q3 profit falls YOY

Seasons Textiles Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 7 Indian paise per share, a decline of 44.7% from 13 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 543,130 rupees, a decline of 44.1% from 971,250 rupees in the year-earlier period.

The normalized profit margin dropped to 0.5% from 1.0% in the year-earlier period.

Total revenue grew 6.6% year over year to 99.6 million rupees from 93.5 million rupees, and total operating expenses climbed 6.3% year over year to 89.8 million rupees from 84.5 million rupees.

Reported net income fell 30.3% from the prior-year period to 1.5 million rupees, or 20 paise per share, from 2.2 million rupees, or 29 paise per share.

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