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HS India fiscal Q3 profit falls YOY

H S India Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 13 Indian paise per share, a decline of 17.0% from 16 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.0 million rupees, a decrease of 17.4% from 2.5 million rupees in the prior-year period.

The normalized profit margin dropped to 3.9% from 5.1% in the year-earlier period.

Total revenue climbed 7.7% on an annual basis to 52.4 million rupees from 48.6 million rupees, and total operating expenses decreased from the prior-year period to 40.7 million rupees from 42.8 million rupees.

Reported net income fell 17.1% on an annual basis to 2.4 million rupees, or 15 paise per share, from 2.9 million rupees, or 18 paise per share.

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