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Welspun India fiscal Q3 profit climbs 7.5% YOY

Welspun India Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.12 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.05 rupees per share.

EPS climbed 7.1% year over year from 1.05 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.12 billion rupees, a gain of 7.5% from 1.05 billion rupees in the year-earlier period.

The normalized profit margin dropped to 9.4% from 10.3% in the year-earlier period.

Total revenue rose 17.6% year over year to 11.97 billion rupees from 10.18 billion rupees, and total operating expenses rose 14.6% on an annual basis to 9.49 billion rupees from 8.28 billion rupees.

Reported net income grew 31.1% year over year to 1.44 billion rupees, or 1.43 rupees per share, from 1.09 billion rupees, or 1.09 rupees per share.

As of Jan. 29, US$1 was equivalent to 61.78 Indian rupees.