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Sundaram Brake Linings swings to profit in fiscal Q3

Sundaram Brake Linings Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 22,500 rupees, compared with a loss of 4.2 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.0% from negative 0.7% in the year-earlier period.

Total revenue rose year over year to 613.4 million rupees from 605.6 million rupees, and total operating expenses totaled 604.7 million rupees, compared with 605.5 million rupees in the year-earlier period.

Reported net income came to 36,000 rupees, or 1 paise per share, compared to a loss of 6.7 million rupees, or a loss of 1.71 rupees per share, in the year-earlier period.

As of Feb. 3, US$1 was equivalent to 61.67 Indian rupees.