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Spenta International fiscal Q3 profit falls YOY

Spenta International Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 38 Indian paise per share, a decrease of 73.9% from 1.47 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 1.2 million rupees, a decline of 73.3% from 4.6 million rupees in the prior-year period.

The normalized profit margin declined to 1.9% from 4.8% in the year-earlier period.

Total revenue declined 31.3% on an annual basis to 65.7 million rupees from 95.6 million rupees, and total operating expenses fell 27.1% from the prior-year period to 63.6 million rupees from 87.3 million rupees.

Reported net income decreased 86.0% year over year to 510,000 rupees, or 16 paise per share, from 3.6 million rupees, or 1.17 rupees per share.

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