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JBF Industries fiscal Q3 profit falls YOY

JBF Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.82 Indian rupees per share, a decline of 9.4% from 3.11 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 192.1 million rupees, a decrease of 28.9% from 270.1 million rupees in the prior-year period.

The normalized profit margin fell to 0.8% from 1.3% in the year-earlier period.

Total revenue climbed 12.6% year over year to 24.00 billion rupees from 21.32 billion rupees, and total operating expenses increased 8.5% on an annual basis to 22.20 billion rupees from 20.47 billion rupees.

Reported net income rose from the prior-year period to 217.3 million rupees, or 3.19 rupees per share, from 34.7 million rupees, or 40 paise per share.

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