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Butterfly Gandhimathi Appliances fiscal Q3 profit falls YOY

Butterfly Gandhimathi Appliances Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 15 Indian paise per share, a decline of 94.9% from 3.02 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 2.8 million rupees, a decline of 94.8% from 54.0 million rupees in the prior-year period.

The normalized profit margin dropped to 0.2% from 2.2% in the year-earlier period.

Total revenue decreased 51.2% on an annual basis to 1.17 billion rupees from 2.40 billion rupees, and total operating expenses fell 50.5% on an annual basis to 1.11 billion rupees from 2.24 billion rupees.

Reported net income declined 95.1% on an annual basis to 2.9 million rupees, or 16 paise per share, from 58.8 million rupees, or 3.29 rupees per share.

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