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VST Industries fiscal Q3 profit falls YOY

VST Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 18.42 Indian rupees per share, a decrease of 21.7% from 23.53 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 284.4 million rupees, a decline of 21.7% from 363.4 million rupees in the prior-year period.

The normalized profit margin declined to 14.5% from 17.2% in the year-earlier period.

Total revenue decreased 6.8% year over year to 1.96 billion rupees from 2.11 billion rupees, and total operating expenses totaled 1.55 billion rupees, compared with 1.55 billion rupees in the year-earlier period.

Reported net income declined 21.6% on an annual basis to 303.6 million rupees, or 19.67 rupees per share, from 387.0 million rupees, or 25.06 rupees per share.

As of Jan. 22, US$1 was equivalent to 61.40 Indian rupees.