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Thangamayil Jewellery fiscal Q3 loss narrows YOY

Thangamayil Jewellery Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 1.48 Indian rupees per share, compared with a loss of 4.01 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 20.3 million rupees, compared with a loss of 55.0 million rupees in the year-earlier period.

The normalized profit margin climbed to negative 0.5% from negative 2.2% in the year-earlier period.

Total revenue rose 51.7% on an annual basis to 3.78 billion rupees from 2.49 billion rupees, and total operating expenses climbed 49.3% on an annual basis to 3.75 billion rupees from 2.51 billion rupees.

Reported net income totaled a loss of 21.7 million rupees, or a loss of 1.58 rupees per share, compared to a loss of 64.9 million rupees, or a loss of 4.73 rupees per share, in the year-earlier period.

As of Feb. 4, US$1 was equivalent to 61.82 Indian rupees.