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Risa International swings to profit in fiscal Q3

Risa International Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2 Indian paise per share, compared with a loss of 4 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.0 million rupees, compared with a loss of 5.9 million rupees in the year-earlier period.

The normalized profit margin increased to 1.3% from negative 1.2% in the year-earlier period.

Total revenue fell 36.3% year over year to 303.2 million rupees from 476.2 million rupees, and total operating expenses decreased 38.9% year over year to 296.5 million rupees from 485.4 million rupees.

Reported net income came to 4.3 million rupees, or 3 paise per share, compared to a loss of 6.6 million rupees, or a loss of 4 paise per share, in the year-earlier period.

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