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Faze Three fiscal Q1 profit climbs 25.0% YOY

Faze Three Ltd said its normalized net income for the fiscal first quarter ended June 30 was 1.16 Indian rupees per share, an increase of 24.9% from 93 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 14.1 million rupees, an increase of 25.0% from 11.3 million rupees in the prior-year period.

The normalized profit margin climbed to 2.8% from 2.3% in the year-earlier period.

Total revenue came to 498.4 million rupees, compared with 499.6 million rupees in the prior-year period, and total operating expenses fell on an annual basis to 443.5 million rupees from 457.1 million rupees.

Reported net income came to 10.1 million rupees, or 83 paise per share, compared to a loss of 50.2 million rupees, or a loss of 4.12 rupees per share, in the year-earlier period.

As of Aug. 22, US$1 was equivalent to 60.49 Indian rupees.