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National Plastic Industries fiscal Q3 profit falls YOY

National Plastic Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 2.2 million rupees, a fall of 25.9% from 3.0 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 1.1% from 1.4% in the year-earlier period.

Total revenue fell 5.1% on an annual basis to 197.8 million rupees from 208.5 million rupees, and total operating expenses came to 191.4 million rupees, compared with 191.4 million rupees in the year-earlier period.

Reported net income declined 25.9% year over year to 3.6 million rupees, or 39 paise per share, from 4.8 million rupees.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.