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Mahalaxmi Rubtech fiscal Q3 profit climbs 98.9% YOY

Mahalaxmi Rubtech Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.49 Indian rupees per share, a gain from 73 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.9 million rupees, a gain of 98.9% from 6.5 million rupees in the prior-year period.

The normalized profit margin climbed to 3.3% from 1.7% in the year-earlier period.

Total revenue grew on an annual basis to 393.4 million rupees from 380.9 million rupees, and total operating expenses climbed on an annual basis to 372.2 million rupees from 363.9 million rupees.

Reported net income rose from the prior-year period to 14.7 million rupees, or 1.70 rupees per share, from 7.1 million rupees, or 80 paise per share.

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