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SRK Industries fiscal Q3 profit falls YOY

S R K Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 1 Indian paise per share, a decrease of 68.6% from 4 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 759,380 rupees, a decrease of 73.7% from 2.9 million rupees in the prior-year period.

The normalized profit margin dropped to 1.9% from 27.3% in the year-earlier period.

Total revenue grew on an annual basis to 39.5 million rupees from 10.6 million rupees, and total operating expenses increased year over year to 45.6 million rupees from 5.9 million rupees.

Reported net income declined 58.2% from the prior-year period to 1.2 million rupees, or 2 paise per share, from 2.9 million rupees, or 4 paise per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.