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IFB Industries fiscal Q3 profit climbs 66.0% YOY

IFB Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.94 Indian rupees per share, an increase of 66.0% from 1.77 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 119.1 million rupees, a gain of 66.0% from 71.8 million rupees in the prior-year period.

The normalized profit margin climbed to 3.7% from 2.6% in the year-earlier period.

Total revenue rose 18.9% year over year to 3.25 billion rupees from 2.73 billion rupees, and total operating expenses increased 18.9% year over year to 3.18 billion rupees from 2.67 billion rupees.

Reported net income increased 78.6% on an annual basis to 157.9 million rupees, or 3.90 rupees per share, from 88.4 million rupees, or 2.18 rupees per share.

As of Feb. 27, US$1 was equivalent to 61.78 Indian rupees.