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M M Rubber swings to profit in fiscal Q3

M M Rubber Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.1 million rupees, compared with a loss of 180,000 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.4% from negative 0.4% in the year-earlier period.

Total revenue decreased on an annual basis to 43.6 million rupees from 44.9 million rupees, and total operating expenses fell 8.4% from the prior-year period to 40.1 million rupees from 43.8 million rupees.

Reported net income came to 1.7 million rupees, compared with a loss of 288,000 rupees in the year-earlier period.

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