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India Motor Parts & Accessories fiscal Q3 profit falls YOY

India Motor Parts & Accessories Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 7.33 Indian rupees per share, a decline of 20.6% from 9.23 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 61.0 million rupees, a decrease of 20.6% from 76.8 million rupees in the prior-year period.

The normalized profit margin fell to 4.7% from 5.8% in the year-earlier period.

Total revenue fell year over year to 1.29 billion rupees from 1.32 billion rupees, and total operating expenses came to 1.20 billion rupees, compared with 1.21 billion rupees in the year-earlier period.

Reported net income fell 23.5% from the prior-year period to 64.3 million rupees, or 7.72 rupees per share, from 84.0 million rupees, or 10.10 rupees per share.

As of Jan. 23, US$1 was equivalent to 61.41 Indian rupees.