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Jay Ushin fiscal Q3 profit falls YOY

Jay Ushin Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 90 Indian paise per share, a decrease of 46.4% from 1.68 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 3.5 million rupees, a decrease of 46.4% from 6.5 million rupees in the prior-year period.

The normalized profit margin fell to 0.2% from 0.4% in the year-earlier period.

Total revenue rose 9.5% year over year to 1.61 billion rupees from 1.47 billion rupees, and total operating expenses rose 9.6% from the prior-year period to 1.61 billion rupees from 1.47 billion rupees.

Reported net income decreased 97.5% year over year to 386,240 rupees, or 10 paise per share, from 15.3 million rupees, or 3.96 rupees per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.