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Automatic Systems Q3 profit falls YOY

Automatic Systems Ltd. said its normalized net income for the third quarter amounted to 2.88 Mauritian rupees per share, a decline of 7.1% from 3.10 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 10.2 million rupees, a decrease of 6.3% from 10.8 million rupees in the year-earlier period.

The normalized profit margin dropped to 9.7% from 10.5% in the year-earlier period.

Total revenue grew on an annual basis to 104.2 million rupees from 102.9 million rupees, and total operating expenses climbed on an annual basis to 87.9 million rupees from 85.4 million rupees.

Reported net income decreased 10.0% from the prior-year period to 13.5 million rupees, or 3.83 rupees per share, from 15.0 million rupees, or 4.29 rupees per share.

As of Nov. 15, US$1 was equivalent to 35.87 Mauritian rupees.