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Despite an increase in revenue, Seprod saw a decline in profit during the January and March quarter.
Revenue totalled $4 billion, up from $3.7 billion during the corresponding period last year. However, the company's expenses rose from $2.8 billion in 2014 to $3.3 billion in the latest quarter under review.
Largely as a consequence of this, net profit amounted to $189 million, versus $395 million last year.
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