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Mukta Agriculture swings to profit in fiscal Q3

Mukta Agriculture Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 6 Indian paise per share, compared with a loss of 2 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 996,880 rupees, compared with a loss of 240,630 rupees in the year-earlier period.

Reported net income totaled 1.7 million rupees, or 6 paise per share, compared to a loss of 385,000 rupees, or a loss of 3 paise per share, in the year-earlier period.

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