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V-Mart Retail fiscal Q3 profit climbs 72.0% YOY

V-Mart Retail Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 12.69 Indian rupees per share, a gain of 71.8% from 7.39 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 228.1 million rupees, an increase of 72.0% from 132.7 million rupees in the prior-year period.

The normalized profit margin increased to 9.5% from 6.8% in the year-earlier period.

Total revenue climbed 22.7% on an annual basis to 2.40 billion rupees from 1.95 billion rupees, and total operating expenses rose 16.6% from the prior-year period to 2.01 billion rupees from 1.73 billion rupees.

Reported net income rose 71.2% on an annual basis to 241.3 million rupees, or 13.42 rupees per share, from 141.0 million rupees, or 7.85 rupees per share.

As of Jan. 23, US$1 was equivalent to 61.41 Indian rupees.