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Vijay Solvex fiscal Q3 profit falls YOY

Vijay Solvex Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.15 Indian rupees per share, a decrease of 65.6% from 6.25 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 6.9 million rupees, a decline of 65.6% from 20.0 million rupees in the year-earlier period.

The normalized profit margin fell to 0.4% from 0.8% in the year-earlier period.

Total revenue decreased 31.7% on an annual basis to 1.78 billion rupees from 2.60 billion rupees, and total operating expenses fell 32.0% on an annual basis to 1.75 billion rupees from 2.57 billion rupees.

Reported net income declined 64.1% on an annual basis to 8.2 million rupees, or 2.56 rupees per share, from 22.9 million rupees, or 7.15 rupees per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.