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PBM Polytex fiscal Q3 profit falls YOY

PBM Polytex Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 4.90 Indian rupees per share, a decline of 40.5% from 8.24 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 39.8 million rupees, a decline of 40.5% from 66.9 million rupees in the prior-year period.

The normalized profit margin dropped to 7.1% from 11.3% in the year-earlier period.

Total revenue fell 5.6% on an annual basis to 558.3 million rupees from 591.2 million rupees, and total operating expenses increased from the prior-year period to 492.0 million rupees from 481.4 million rupees.

Reported net income fell 44.8% on an annual basis to 41.2 million rupees, or 5.07 rupees per share, from 74.7 million rupees, or 9.19 rupees per share.

As of Feb. 9, US$1 was equivalent to 62.14 Indian rupees.