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Hind Syntex swings to profit in fiscal Q3

Hind Syntex Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 196,880 rupees, compared with a loss of 4.8 million rupees in the prior-year period.

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

The normalized profit margin climbed to 0.2% from negative 4.1% in the year-earlier period.

Total revenue came to 86.9 million rupees, and total operating expenses totaled 86.9 million rupees.

Reported net income totaled 315,000 rupees, or 2 paise per share.

As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.