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Seasons Textiles fiscal Q3 profit falls YOY

Seasons Textiles Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 13 Indian paise per share, a decline of 8.5% from 14 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 971,250 rupees, a decline of 8.6% from 1.1 million rupees in the prior-year period.

The normalized profit margin fell to 1.0% from 1.5% in the year-earlier period.

Total revenue climbed 31.7% on an annual basis to 93.5 million rupees from 71.0 million rupees, and total operating expenses rose 38.4% year over year to 84.5 million rupees from 61.0 million rupees.

Reported net income fell 12.2% from the prior-year period to 2.2 million rupees, or 29 paise per share, from 2.5 million rupees, or 33 paise per share.

As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.