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ZF Steering Gear fiscal Q3 profit falls YOY

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ZF Steering Gear fiscal Q3 profit falls YOY

ZF Steering Gear (India) Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 3.38 Indian rupees per share, a decline of 11.7% from 3.83 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 30.7 million rupees, a decrease of 11.8% from 34.8 million rupees in the year-earlier period.

The normalized profit margin fell to 4.4% from 5.7% in the year-earlier period.

Total revenue rose 14.5% year over year to 701.5 million rupees from 612.7 million rupees, and total operating expenses grew 17.5% from the prior-year period to 663.4 million rupees from 564.8 million rupees.

Reported net income totaled 44.8 million rupees, or 4.94 rupees per share, compared to a loss of 146.9 million rupees, or a loss of 16.19 rupees per share, in the year-earlier period.

As of Jan. 29, US$1 was equivalent to 61.78 Indian rupees.