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MK Exim fiscal Q3 profit climbs 61.9% YOY

M.K. Exim (India) Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 6 Indian paise per share, a decline of 6.6% from 7 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 459,380 rupees, a gain of 61.9% from 283,750 rupees in the year-earlier period.

The normalized profit margin dropped to 0.3% from 0.3% in the year-earlier period.

Total revenue climbed 76.7% year over year to 153.8 million rupees from 87.0 million rupees, and total operating expenses climbed 77.1% from the prior-year period to 152.7 million rupees from 86.3 million rupees.

Reported net income rose 61.9% from the prior-year period to 735,000 rupees, or 10 paise per share, from 454,000 rupees, or 11 paise per share.

As of Feb. 9, US$1 was equivalent to 62.14 Indian rupees.