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Vadilal Enterprises fiscal Q3 loss widens YOY

Vadilal Enterprises Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 23.05 Indian rupees per share, compared with a loss of 7.99 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 a loss of 19.9 million rupees, compared with a loss of 6.9 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 3.2% from negative 1.2% in the year-earlier period.

Total revenue grew 11.8% year over year to 629.1 million rupees from 562.5 million rupees, and total operating expenses grew 14.8% from the prior-year period to 661.1 million rupees from 575.8 million rupees.

Reported net income came to a loss of 21.5 million rupees, or a loss of 24.90 rupees per share, compared to a loss of 7.4 million rupees, or a loss of 8.61 rupees per share, in the prior-year period.

As of Feb. 18, US$1 was equivalent to 62.27 Indian rupees.