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LML Ltd. fiscal Q3 loss widens 77.8% YOY

LML Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 1.52 Indian rupees per share, compared with a loss of 85 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 a loss of 124.4 million rupees, compared with a loss of 69.9 million rupees in the year-earlier period.

The normalized profit margin fell to negative 25.3% from negative 8.8% in the year-earlier period.

Total revenue fell 37.9% on an annual basis to 491.6 million rupees from 791.5 million rupees, and total operating expenses decreased 28.8% year over year to 583.2 million rupees from 819.0 million rupees.

Reported net income came to a loss of 199.0 million rupees, or a loss of 2.43 rupees per share, compared to a loss of 111.9 million rupees, or a loss of 1.36 rupees per share, in the year-earlier period.

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