Revenue in the third quarter of fiscal 2013 for our Amira and third party branded products was 99.0% of total revenue, compared to 93.4% of total revenue, for the third quarter of fiscal 2012. Sales of bulk commodity products to institutional customers in the third quarter of fiscal 2013 contributed 1.0% of total revenue, compared to 6.6% of total revenue, for the third quarter of fiscal 2012.
Cost of materials including change in inventory of finished goods increased $28.0 million, or 50.2%, to $83.7 million in the third quarter of fiscal 2013 from $55.7 million in the same period last fiscal year. This increase primarily reflects the growth in our revenue. As a percentage of revenue, cost of material decreased to 73.5% in the third quarter of fiscal 2013, compared to 76.4% in the third quarter of fiscal 2012.
EBITDA (defined as profit after tax plus finance costs, non-recurring IPO-related expenses, income tax expense and depreciation & amortization) increased 57.7% to $14.0 million in the third quarter of fiscal 2013, compared to $8.9 million in the same period last year. A reconciliation of EBITDA to the IFRS measure of profit after tax is provided in the financial tables section of this release.
Profit after tax for the third quarter of fiscal 2013 increased 94.1% to $4.2 million, compared to $2.1 million in the same period last year. Basic and diluted earnings per share (1) was $0.11 compared to $0.09 for the third quarter of fiscal 2012.Excluding non-recurring IPO-related expenses of approximately $1.8 million, adjusted profit after tax increased 175.6% to $5.9 million, compared to $2.1 million in the same period last year. For better quarter over quarter comparability, after adjusting for non-recurring IPO-related expenses and using 35.7 million fully diluted shares, adjusted earnings per share was $0.17 compared to $0.06 in the third quarter of fiscal 2012. Reconciliations of adjusted profit after tax, to the IFRS measure of profit after tax, and adjusted earnings per share, to basic and diluted earnings per share are provided in the financial tables section of this release.
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