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SRS Ltd. fiscal Q3 profit climbs YOY

SRS Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 21 Indian paise per share, an increase from 7 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 57.4 million rupees, an increase from 19.0 million rupees in the year-earlier period.

The normalized profit margin climbed to 0.7% from 0.2% in the year-earlier period.

Total revenue rose 5.5% on an annual basis to 8.70 billion rupees from 8.24 billion rupees, and total operating expenses grew from the prior-year period to 8.48 billion rupees from 8.11 billion rupees.

Reported net income grew 23.7% from the prior-year period to 55.2 million rupees, or 20 paise per share, from 44.6 million rupees, or 16 paise per share.

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