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Aditya Spinners fiscal Q3 profit falls YOY

Aditya Spinners Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 12 Indian paise per share, a decrease of 20.8% from 15 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.0 million rupees, a decrease of 21.1% from 2.5 million rupees in the prior-year period.

The normalized profit margin dropped to 1.8% from 2.4% in the year-earlier period.

Total revenue grew 6.5% year over year to 113.9 million rupees from 106.9 million rupees, and total operating expenses grew 6.9% on an annual basis to 109.3 million rupees from 102.2 million rupees.

Reported net income declined 21.1% year over year to 3.2 million rupees, or 19 paise per share, from 4.1 million rupees, or 24 paise per share.

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