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Kalpa Commercial fiscal Q3 profit falls YOY

Kalpa Commercial Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 19 Indian paise per share, an increase from 9 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 191,180 rupees, a decrease of 80.2% from 965,650 rupees in the prior-year period.

The normalized profit margin dropped to 1.0% from 3.4% in the year-earlier period.

Total revenue decreased 35.9% year over year to 18.3 million rupees from 28.6 million rupees, and total operating expenses fell 33.4% on an annual basis to 18.0 million rupees from 27.1 million rupees.

Reported net income fell 80.2% from the prior-year period to 211,060 rupees, or 21 paise per share, from 1.1 million rupees, or 10 paise per share.

As of March 18, US$1 was equivalent to 62.70 Indian rupees.