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Vardhman Acrylics fiscal Q3 profit falls YOY

Vardhman Acrylics Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 73 Indian paise per share, a decrease from 77 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 67.7 million rupees, a decline of 5.3% from 71.5 million rupees in the prior-year period.

The normalized profit margin dropped to 5.0% from 5.8% in the year-earlier period.

Total revenue increased 9.5% on an annual basis to 1.35 billion rupees from 1.23 billion rupees, and total operating expenses grew 11.0% year over year to 1.24 billion rupees from 1.12 billion rupees.

Reported net income totaled 81.5 million rupees, or 88 paise per share, compared to 82.1 million rupees, or 88 paise per share, in the year-earlier period.

As of Feb. 2, US$1 was equivalent to 61.72 Indian rupees.