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Warren Tea fiscal Q3 profit falls YOY

Warren Tea Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.27 Indian rupees per share, a decline of 56.8% from 5.26 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 27.2 million rupees, a decline of 56.8% from 62.9 million rupees in the year-earlier period.

The normalized profit margin dropped to 6.4% from 13.3% in the year-earlier period.

Total revenue decreased 11.0% year over year to 422.1 million rupees from 474.1 million rupees, and total operating expenses rose from the prior-year period to 379.9 million rupees from 374.7 million rupees.

Reported net income decreased 56.8% from the prior-year period to 43.5 million rupees, or 3.64 rupees per share, from 100.6 million rupees, or 8.42 rupees per share.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.