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Everlon Synthetics swings to profit in fiscal Q3

Everlon Synthetics Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 22,500 rupees, compared with a loss of 1.6 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 increased to 0.0% from negative 1.8% in the year-earlier period.

Total revenue decreased 8.7% year over year to 84.0 million rupees from 92.0 million rupees, and total operating expenses decreased 10.9% from the prior-year period to 82.6 million rupees from 92.7 million rupees.

Reported net income totaled 5.4 million rupees, or 81 paise per share, compared to a loss of 2.6 million rupees, or a loss of 80 paise per share, in the year-earlier period.

As of Feb. 3, US$1 was equivalent to 68.01 Indian rupees.