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.
