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Competent Automobiles fiscal Q3 profit climbs 29.7% YOY

Competent Automobiles Company Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 5.46 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.89 rupees per share.

EPS rose 29.7% year over year from 4.21 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 33.5 million rupees, a gain of 29.7% from 25.9 million rupees in the year-earlier period.

The normalized profit margin increased to 1.3% from 1.1% in the year-earlier period.

Total revenue rose 12.9% on an annual basis to 2.65 billion rupees from 2.35 billion rupees, and total operating expenses grew 12.7% year over year to 2.59 billion rupees from 2.30 billion rupees.

Reported net income increased 26.1% on an annual basis to 36.2 million rupees, or 5.89 rupees per share, from 28.7 million rupees, or 4.67 rupees per share.

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