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Eastern Treads fiscal Q3 profit climbs 65.9% YOY

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Eastern Treads fiscal Q3 profit climbs 65.9% YOY

Eastern Treads Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 76 Indian paise per share, a gain of 67.9% from 46 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.0 million rupees, an increase of 65.9% from 2.4 million rupees in the year-earlier period.

The normalized profit margin rose to 1.8% from 1.2% in the year-earlier period.

Total revenue rose 9.3% year over year to 218.7 million rupees from 200.1 million rupees, and total operating expenses climbed 7.8% from the prior-year period to 210.6 million rupees from 195.3 million rupees.

Reported net income rose 74.8% on an annual basis to 4.8 million rupees, or 92 paise per share, from 2.7 million rupees, or 52 paise per share.

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