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Rane (Madras) fiscal Q3 profit climbs 62.0% YOY

Rane (Madras) Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 2.28 Indian rupees per share, an increase of 64.2% from 1.39 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.3 million rupees, a gain of 62.0% from 15.6 million rupees in the prior-year period.

The normalized profit margin rose to 1.2% from 0.8% in the year-earlier period.

Total revenue climbed 6.2% year over year to 2.05 billion rupees from 1.93 billion rupees, and total operating expenses grew 5.3% from the prior-year period to 1.96 billion rupees from 1.86 billion rupees.

Reported net income increased 26.8% year over year to 32.0 million rupees, or 2.88 rupees per share, from 25.2 million rupees, or 2.24 rupees per share.

As of Jan. 25, US$1 was equivalent to 67.76 Indian rupees.