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Damodar Industries fiscal Q3 profit falls YOY

Damodar Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.71 Indian rupees per share, a decline of 27.5% from 2.36 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 19.0 million rupees, a decrease of 27.6% from 26.2 million rupees in the year-earlier period.

The normalized profit margin fell to 1.3% from 1.4% in the year-earlier period.

Total revenue fell 23.1% on an annual basis to 1.42 billion rupees from 1.85 billion rupees, and total operating expenses decreased 23.6% on an annual basis to 1.34 billion rupees from 1.75 billion rupees.

Reported net income fell 9.7% on an annual basis to 25.0 million rupees, or 2.25 rupees per share, from 27.7 million rupees, or 2.49 rupees per share.

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