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Maral Overseas fiscal Q3 profit falls YOY

Maral Overseas Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 5 Indian paise per share, a decline of 95.7% from 1.11 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.1 million rupees, a decline of 67.8% from 77.9 million rupees in the prior-year period.

The normalized profit margin declined to 1.6% from 4.6% in the year-earlier period.

Total revenue fell 5.6% year over year to 1.59 billion rupees from 1.68 billion rupees, and total operating expenses fell year over year to 1.53 billion rupees from 1.55 billion rupees.

Reported net income fell 70.2% from the prior-year period to 31.7 million rupees, or 6 paise per share, from 106.5 million rupees, or 1.52 rupees per share.

As of Jan. 28, US$1 was equivalent to 61.32 Indian rupees.