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Rane Brake Lining fiscal Q4 profit climbs 58.6% YOY

Rane Brake Lining Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 10.37 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 10.16 rupees per share.

EPS rose 58.6% year over year from 6.54 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 82.1 million rupees, an increase of 58.6% from 51.8 million rupees in the prior-year period.

The normalized profit margin climbed to 6.6% from 4.5% in the year-earlier period.

Total revenue rose 8.5% year over year to 1.24 billion rupees from 1.14 billion rupees, and total operating expenses rose 6.5% year over year to 1.11 billion rupees from 1.04 billion rupees.

Reported net income increased 42.3% year over year to 91.4 million rupees, or 11.54 rupees per share, from 64.2 million rupees, or 8.11 rupees per share.

For the year, the company's normalized net income totaled 28.03 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 28.18 rupees.

EPS rose 72.6% from 16.24 rupees in the prior year.

Normalized net income was 221.9 million rupees, a rise of 72.7% from 128.5 million rupees in the prior year.

Full-year total revenue increased 7.7% year over year to 4.48 billion rupees from 4.16 billion rupees, and total operating expenses rose 5.3% year over year to 4.11 billion rupees from 3.91 billion rupees.

The company said reported net income rose 59.9% year over year to 257.6 million rupees, or 32.54 rupees per share, in the full year, from 161.1 million rupees, or 20.35 rupees per share.

As of June 24, US$1 was equivalent to 67.83 Indian rupees.