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H P Cotton Textile Mills fiscal Q3 profit climbs 20.0% YOY

H P Cotton Textile Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 3.26 Indian rupees per share, an increase of 19.5% from 2.73 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 12.4 million rupees, an increase of 20.0% from 10.3 million rupees in the prior-year period.

The normalized profit margin climbed to 4.9% from 3.6% in the year-earlier period.

Total revenue declined 11.5% year over year to 253.2 million rupees from 286.1 million rupees, and total operating expenses decreased 13.1% on an annual basis to 229.5 million rupees from 264.2 million rupees.

Reported net income grew 14.3% from the prior-year period to 12.8 million rupees, or 3.37 rupees per share, from 11.2 million rupees, or 2.96 rupees per share.

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