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Reliance Chemotex Industries fiscal Q3 profit falls YOY

Reliance Chemotex Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.08 Indian rupees per share, a decline of 39.3% from 1.79 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 8.9 million rupees, a decline of 20.3% from 11.1 million rupees in the year-earlier period.

The normalized profit margin fell to 1.6% from 1.7% in the year-earlier period.

Total revenue decreased 15.4% on an annual basis to 556.6 million rupees from 657.8 million rupees, and total operating expenses declined 11.8% on an annual basis to 540.5 million rupees from 612.8 million rupees.

Reported net income declined 17.5% from the prior-year period to 11.7 million rupees, or 1.43 rupees per share, from 14.2 million rupees, or 2.28 rupees per share.

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