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Monte Carlo Fashions fiscal Q3 profit climbs 24.1% YOY

Monte Carlo Fashions Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 17.98 Indian rupees per share, an increase of 24.1% from 14.49 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 390.8 million rupees, an increase of 24.1% from 314.9 million rupees in the prior-year period.

The normalized profit margin increased to 12.4% from 11.8% in the year-earlier period.

Total revenue rose 18.7% on an annual basis to 3.16 billion rupees from 2.66 billion rupees, and total operating expenses rose 15.8% from the prior-year period to 2.51 billion rupees from 2.17 billion rupees.

Reported net income rose 23.8% year over year to 407.8 million rupees, or 18.76 rupees per share, from 329.4 million rupees, or 15.16 rupees per share.

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