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Venky's (India) Ltd. fiscal Q3 profit climbs YOY

Venky's (India) Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 10.56 Indian rupees per share, an increase from 1.58 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 148.8 million rupees, a gain from 22.2 million rupees in the year-earlier period.

The normalized profit margin rose to 3.3% from 0.5% in the year-earlier period.

Total revenue declined year over year to 4.50 billion rupees from 4.55 billion rupees, and total operating expenses fell 7.8% from the prior-year period to 4.14 billion rupees from 4.49 billion rupees.

Reported net income grew 90.7% on an annual basis to 198.9 million rupees, or 14.11 rupees per share, from 104.3 million rupees, or 7.41 rupees per share.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.