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Gorani Industries fiscal Q3 profit falls YOY

Gorani Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 4 Indian paise per share, a decline of 93.8% from 70 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 237,500 rupees, a decrease of 93.8% from 3.8 million rupees in the prior-year period.

The normalized profit margin dropped to 1.2% from 26.7% in the year-earlier period.

Total revenue climbed 43.0% year over year to 20.5 million rupees from 14.3 million rupees, and total operating expenses grew year over year to 20.0 million rupees from 8.2 million rupees.

Reported net income declined 93.8% from the prior-year period to 380,000 rupees, or 7 paise per share, from 6.1 million rupees, or 1.12 rupees per share.

As of Feb. 2, US$1 was equivalent to 61.72 Indian rupees.