Rane (Madras) Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.39 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.42 rupees per share.
EPS decreased 65.1% year over year from 3.98 rupees.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.6 million rupees, a decrease of 61.3% from 40.5 million rupees in the year-earlier period.
The normalized profit margin declined to 0.8% from 2.5% in the year-earlier period.
Total revenue grew 21.1% on an annual basis to 1.93 billion rupees from 1.59 billion rupees, and total operating expenses climbed 24.6% on an annual basis to 1.86 billion rupees from 1.50 billion rupees.
Reported net income decreased 52.4% year over year to 25.2 million rupees, or 2.24 rupees per share, from 53.0 million rupees, or 5.21 rupees per share.
As of Jan. 22, US$1 was equivalent to 61.40 Indian rupees.
