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Jamna Auto Industries swings to profit in fiscal Q3

Jamna Auto Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 17 Indian paise per share, compared with a loss of 15 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 66.6 million rupees, compared with a loss of 59.8 million rupees in the prior-year period.

The normalized profit margin climbed to 2.6% from negative 3.5% in the year-earlier period.

Total revenue increased 51.5% on an annual basis to 2.57 billion rupees from 1.70 billion rupees, and total operating expenses rose 39.1% year over year to 2.43 billion rupees from 1.74 billion rupees.

Reported net income came to 54.4 million rupees, or 14 paise per share, compared to a loss of 82.9 million rupees, or a loss of 21 paise per share, in the year-earlier period.

As of Feb. 3, US$1 was equivalent to 61.67 Indian rupees.