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Rane (Madras) fiscal Q2 profit climbs 31.7% YOY

Rane (Madras) Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 4.19 Indian rupees per share, a gain of 33.3% from 3.15 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 45.6 million rupees, a gain of 31.7% from 34.6 million rupees in the year-earlier period.

The normalized profit margin rose to 2.2% from 1.8% in the year-earlier period.

Total revenue grew 12.1% on an annual basis to 2.11 billion rupees from 1.88 billion rupees, and total operating expenses grew 11.7% from the prior-year period to 2.00 billion rupees from 1.79 billion rupees.

Reported net income increased 31.8% year over year to 51.6 million rupees, or 4.75 rupees per share, from 39.1 million rupees, or 3.56 rupees per share.

As of Oct. 20, US$1 was equivalent to 64.96 Indian rupees.