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Virtual Global Education fiscal Q3 profit climbs YOY

Virtual Global Education Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 5.3 million rupees, a rise from 281,720 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 5.8% from 1.0% in the year-earlier period.

Total revenue grew on an annual basis to 91.0 million rupees from 29.2 million rupees, and total operating expenses climbed from the prior-year period to 82.5 million rupees from 28.6 million rupees.

Reported net income increased year over year to 8.4 million rupees, or 2 paise per share, from 450,760 rupees.

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