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Ginni Filaments fiscal Q3 profit falls YOY

Ginni Filaments Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 31 Indian paise per share, a decrease of 78.7% from 1.43 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 23.3 million rupees, a decline of 77.3% from 102.7 million rupees in the prior-year period.

The normalized profit margin fell to 1.2% from 4.4% in the year-earlier period.

Total revenue fell 15.3% year over year to 1.97 billion rupees from 2.32 billion rupees, and total operating expenses decreased 12.4% from the prior-year period to 1.82 billion rupees from 2.08 billion rupees.

Reported net income decreased 76.7% from the prior-year period to 22.9 million rupees, or 30 paise per share, from 98.1 million rupees, or 1.37 rupees per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.