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Rane (Madras) fiscal Q4 profit falls YOY

4913428 said its normalized net income for the fiscal fourth quarter ended March 31 was 3.92 Indian rupees per share, a decrease of 29.1% from 5.52 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 44.4 million rupees, a decline of 29.2% from 62.8 million rupees in the prior-year period.

The normalized profit margin fell to 2.0% from 2.5% in the year-earlier period.

Total revenue fell 11.5% on an annual basis to 2.27 billion rupees from 2.56 billion rupees, and total operating expenses declined 8.6% on an annual basis to 2.14 billion rupees from 2.34 billion rupees.

Reported net income fell 77.1% from the prior-year period to 18.3 million rupees, or 1.61 rupees per share, from 80.0 million rupees, or 7.04 rupees per share.

For the year, the company's normalized net income totaled 11.88 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 20.72 rupees.

EPS declined 30.6% from 17.14 rupees in the prior year.

Normalized net income was 126.1 million rupees, a decline of 30.4% from 181.1 million rupees in the prior year.

Full-year total revenue grew 7.2% on an annual basis to 7.79 billion rupees from 7.27 billion rupees, and total operating expenses increased 9.4% on an annual basis to 7.42 billion rupees from 6.78 billion rupees.

The company said reported net income decreased 26.8% year over year to 118.8 million rupees, or 11.20 rupees per share, in the full year, from 162.2 million rupees, or 15.35 rupees per share.

s of July 2, US$1 was equivalent to 63.37 Indian rupees.Rane (Madras) Ltd.

4913428 said its normalized net income for the fiscal fourth quarter ended March 31 was 3.92 Indian rupees per share, a decrease of 29.1% from 5.52 rupees per share in the prior-year period.