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Binayak Tex Processors fiscal Q3 profit falls YOY

Binayak Tex Processors Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 9.81 Indian rupees per share, a decrease of 44.1% from 17.56 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 7.0 million rupees, a decrease of 44.2% from 12.5 million rupees in the year-earlier period.

The normalized profit margin declined to 1.5% from 2.9% in the year-earlier period.

Total revenue grew 5.4% on an annual basis to 452.4 million rupees from 429.4 million rupees, and total operating expenses rose 6.3% on an annual basis to 429.3 million rupees from 403.7 million rupees.

Reported net income declined 34.9% year over year to 9.0 million rupees, or 12.60 rupees per share, from 13.8 million rupees, or 19.34 rupees per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.