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Munjal Showa fiscal Q3 profit falls YOY

Munjal Showa Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 3.12 Indian rupees per share, a decrease of 17.6% from 3.79 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 124.6 million rupees, a decline of 17.7% from 151.3 million rupees in the year-earlier period.

The normalized profit margin dropped to 3.4% from 3.9% in the year-earlier period.

Total revenue declined 5.8% year over year to 3.67 billion rupees from 3.89 billion rupees, and total operating expenses decreased 5.1% on an annual basis to 3.48 billion rupees from 3.67 billion rupees.

Reported net income decreased 16.1% year over year to 144.6 million rupees, or 3.62 rupees per share, from 172.3 million rupees, or 4.31 rupees per share.

As of Feb. 5, US$1 was equivalent to 67.80 Indian rupees.