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Blue Chip Tex Industries fiscal Q3 profit falls YOY

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Blue Chip Tex Industries fiscal Q3 profit falls YOY

Blue Chip Tex Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 1.79 Indian rupees per share, a decline of 28.7% from 2.50 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.5 million rupees, a decrease of 28.4% from 4.9 million rupees in the year-earlier period.

The normalized profit margin dropped to 1.1% from 2.4% in the year-earlier period.

Total revenue grew 62.6% on an annual basis to 329.4 million rupees from 202.6 million rupees, and total operating expenses climbed 67.7% year over year to 322.4 million rupees from 192.3 million rupees.

Reported net income fell 18.2% year over year to 4.3 million rupees, or 2.17 rupees per share, from 5.2 million rupees, or 2.66 rupees per share.

As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.