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Rane Holdings fiscal Q3 profit climbs 19.6% YOY

Rane Holdings Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 5.63 Indian rupees per share, a gain of 19.8% from 4.70 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 80.3 million rupees, a gain of 19.6% from 67.1 million rupees in the prior-year period.

The normalized profit margin increased to 1.6% from 1.5% in the year-earlier period.

Total revenue grew 7.2% year over year to 4.91 billion rupees from 4.58 billion rupees, and total operating expenses increased 8.7% year over year to 4.70 billion rupees from 4.33 billion rupees.

Reported net income increased 13.8% on an annual basis to 114.3 million rupees, or 8.01 rupees per share, from 100.4 million rupees, or 7.03 rupees per share.

As of Feb. 9, US$1 was equivalent to 62.14 Indian rupees.