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Eros International swings to loss in fiscal Q3

Eros International PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 1 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

The per-share result swung to a loss from the prior-year profit of 33 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $730,630, compared with income of $18.7 million in the year-earlier period.

The normalized profit margin declined to negative 1.2% from 18.7% in the year-earlier period.

Total revenue declined 39.8% year over year to $60.5 million from $100.4 million, and total operating expenses grew 5.1% on an annual basis to $60.0 million from $57.1 million.

Reported net income came to a loss of $3.8 million, or a loss of 7 cents per share, compared to income of $23.7 million, or 41 cents per share, in the year-earlier period.