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Suprajit Engineering fiscal Q3 profit falls YOY

Suprajit Engineering Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.02 Indian rupees per share, a decrease of 16.6% from 1.22 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 122.2 million rupees, a decrease of 17.3% from 147.8 million rupees in the prior-year period.

The normalized profit margin fell to 7.5% from 9.3% in the year-earlier period.

Total revenue grew on an annual basis to 1.62 billion rupees from 1.60 billion rupees, and total operating expenses climbed 5.8% on an annual basis to 1.39 billion rupees from 1.32 billion rupees.

Reported net income fell 25.9% on an annual basis to 119.6 million rupees, or 100 paise per share, from 161.5 million rupees, or 1.34 rupees per share.

As of Feb. 3, US$1 was equivalent to 61.67 Indian rupees.