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Raghuvir Synthetics fiscal Q3 profit falls YOY

Raghuvir Synthetics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 60 Indian paise per share, a decrease of 21.4% from 76 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 2.4 million rupees, a decrease of 20.3% from 3.0 million rupees in the prior-year period.

The normalized profit margin dropped to 1.7% from 2.4% in the year-earlier period.

Total revenue grew 11.2% year over year to 137.6 million rupees from 123.7 million rupees, and total operating expenses grew 13.2% on an annual basis to 134.5 million rupees from 118.8 million rupees.

Reported net income fell 90.2% from the prior-year period to 826,000 rupees, or 21 paise per share, from 8.4 million rupees, or 2.17 rupees per share.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.