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Shivam Autotech fiscal Q3 profit climbs 34.4% YOY

Shivam Autotech Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 56 Indian paise per share, an increase of 33.8% from 42 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 56.4 million rupees, an increase of 34.4% from 42.0 million rupees in the prior-year period.

The normalized profit margin increased to 5.2% from 3.9% in the year-earlier period.

Total revenue came to 1.08 billion rupees, compared with 1.07 billion rupees in the year-earlier period, and total operating expenses decreased year over year to 932.1 million rupees from 945.9 million rupees.

Reported net income decreased 13.4% from the prior-year period to 60.2 million rupees, or 60 paise per share, from 69.6 million rupees, or 70 paise per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.