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Raymond Ltd. fiscal Q3 profit falls YOY

Raymond Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 6.49 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 7.33 rupees per share.

In the prior-year period, the per-share result was a profit of 6.55 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 398.7 million rupees, compared with 402.0 million rupees in the prior-year period.

The normalized profit margin declined to 2.9% from 3.3% in the year-earlier period.

Total revenue grew 14.5% on an annual basis to 13.82 billion rupees from 12.07 billion rupees, and total operating expenses increased 15.5% from the prior-year period to 12.81 billion rupees from 11.09 billion rupees.

Reported net income decreased from the prior-year period to 560.7 million rupees, or 9.13 rupees per share, from 568.9 million rupees, or 9.27 rupees per share.

As of Jan. 21, US$1 was equivalent to 61.50 Indian rupees.