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Raj Oil Mills fiscal Q3 loss narrows YOY

Raj Oil Mills Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.0 million rupees, compared with a loss of 37.8 million rupees in the year-earlier period.

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

The normalized profit margin increased to negative 0.6% from negative 24.6% in the year-earlier period.

Total revenue rose 14.3% year over year to 175.5 million rupees from 153.5 million rupees, and total operating expenses declined 15.1% on an annual basis to 175.8 million rupees from 207.1 million rupees.

Reported net income totaled a loss of 1.6 million rupees, compared with a loss of 36.9 million rupees, or a loss of 52 paise per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.