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Rane Brake Lining profit misses consensus by 46.9% in fiscal Q4

Rane Brake Lining Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 6.54 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 12.31 rupees per share.

EPS decreased 19.0% year over year from 8.07 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 51.8 million rupees, a decrease of 19.0% from 63.9 million rupees in the year-earlier period.

The normalized profit margin declined to 4.5% from 5.9% in the year-earlier period.

Total revenue rose year over year to 1.14 billion rupees from 1.09 billion rupees, and total operating expenses rose 7.6% year over year to 1.04 billion rupees from 962.4 million rupees.

Reported net income fell 32.5% on an annual basis to 64.2 million rupees, or 8.11 rupees per share, from 95.1 million rupees, or 12.01 rupees per share.

For the year, the company's normalized net income totaled 16.24 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 24.55 rupees.

EPS rose 23.0% from 13.19 rupees in the prior year.

Normalized net income was 128.5 million rupees, a gain of 23.0% from 104.4 million rupees in the prior year.

Full-year total revenue increased 8.4% year over year to 4.16 billion rupees from 3.84 billion rupees, and total operating expenses rose 8.2% on an annual basis to 3.90 billion rupees from 3.61 billion rupees.

The company said reported net income declined 6.4% year over year to 161.1 million rupees, or 20.35 rupees per share, in the full year, from 172.1 million rupees, or 21.74 rupees per share.

As of June 26, US$1 was equivalent to 63.54 Indian rupees.