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Tyroon Tea fiscal Q3 profit falls YOY

Tyroon Tea Co. 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 84.8% from 2.51 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.3 million rupees, a decline of 84.9% from 8.5 million rupees in the prior-year period.

The normalized profit margin dropped to 1.9% from 11.8% in the year-earlier period.

Total revenue fell 5.0% year over year to 68.8 million rupees from 72.4 million rupees, and total operating expenses grew 14.2% from the prior-year period to 68.5 million rupees from 60.0 million rupees.

Reported net income decreased 84.9% year over year to 2.1 million rupees, or 61 paise per share, from 13.7 million rupees, or 4.02 rupees per share.

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