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Shree Bhavya Fabrics fiscal Q3 profit climbs YOY

Shree Bhavya Fabrics Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 10 Indian paise per share, a gain from 5 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 973,750 rupees, a gain from 475,000 rupees in the prior-year period.

The normalized profit margin rose to 0.2% from 0.1% in the year-earlier period.

Total revenue declined 18.2% on an annual basis to 508.0 million rupees from 621.2 million rupees, and total operating expenses decreased 18.0% from the prior-year period to 487.9 million rupees from 595.0 million rupees.

Reported net income increased from the prior-year period to 1.6 million rupees, or 16 paise per share, from 760,000 rupees, or 8 paise per share.

As of Feb. 8, US$1 was equivalent to 68.00 Indian rupees.