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Asian Star fiscal Q3 profit falls YOY

Asian Star Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 6.66 Indian rupees per share, a decline of 44.9% from 12.09 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 106.5 million rupees, a decline of 45.0% from 193.6 million rupees in the year-earlier period.

The normalized profit margin declined to 1.5% from 2.0% in the year-earlier period.

Total revenue declined 28.6% on an annual basis to 7.09 billion rupees from 9.92 billion rupees, and total operating expenses declined 28.4% on an annual basis to 6.84 billion rupees from 9.55 billion rupees.

Reported net income fell 26.6% on an annual basis to 197.2 million rupees, or 12.32 rupees per share, from 268.5 million rupees, or 16.77 rupees per share.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.