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Calcom Vision swings to profit in fiscal Q3

Calcom Vision Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 51 Indian paise per share, compared with a loss of 14 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.7 million rupees, compared with a loss of 461,250 rupees in the year-earlier period.

The normalized profit margin rose to 5.5% from negative 1.4% in the year-earlier period.

Total revenue declined 7.2% on an annual basis to 30.2 million rupees from 32.5 million rupees, and total operating expenses declined 16.5% from the prior-year period to 27.4 million rupees from 32.8 million rupees.

Reported net income came to 2.7 million rupees, or 82 paise per share, compared to a loss of 5.4 million rupees, or a loss of 1.66 rupees per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.