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Siyaram Silk Mills fiscal Q3 profit climbs YOY

Siyaram Silk Mills Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 2.90 Indian rupees per share, a gain from 2.85 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 136.1 million rupees, a gain from 133.8 million rupees in the year-earlier period.

The normalized profit margin fell to 4.1% from 4.4% in the year-earlier period.

Total revenue grew 6.7% year over year to 3.28 billion rupees from 3.08 billion rupees, and total operating expenses rose 7.0% on an annual basis to 3.03 billion rupees from 2.83 billion rupees.

Reported net income decreased 7.8% on an annual basis to 130.4 million rupees, or 2.78 rupees per share, from 141.4 million rupees, or 3.02 rupees per share.

As of Jan. 21, US$1 was equivalent to 61.50 Indian rupees.