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Triveni Engineering & Industries fiscal Q3 loss widens 32.2% YOY

Triveni Engineering & Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 1.24 Indian rupees per share, compared with a loss of 93 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 318.8 million rupees, compared with a loss of 241.1 million rupees in the prior-year period.

The normalized profit margin declined to negative 5.5% from negative 4.1% in the year-earlier period.

Total revenue fell year over year to 5.80 billion rupees from 5.90 billion rupees, and total operating expenses totaled 6.14 billion rupees, compared with 6.11 billion rupees in the year-earlier period.

Reported net income came to a loss of 326.8 million rupees, or a loss of 1.27 rupees per share, compared to a loss of 297.4 million rupees, or a loss of 1.15 rupees per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.