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Riba Textiles fiscal Q3 profit climbs 26.6% YOY

Riba Textiles Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 22 Indian paise per share, a gain of 24.0% from 18 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 2.1 million rupees, a gain of 26.6% from 1.7 million rupees in the prior-year period.

The normalized profit margin rose to 1.1% from 0.9% in the year-earlier period.

Total revenue increased 8.8% year over year to 204.2 million rupees from 187.7 million rupees, and total operating expenses rose 5.2% from the prior-year period to 193.2 million rupees from 183.6 million rupees.

Reported net income grew 42.9% on an annual basis to 2.7 million rupees, or 28 paise per share, from 1.9 million rupees, or 20 paise per share.

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