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Sundaram Brake Linings fiscal Q3 profit climbs YOY

Sundaram Brake Linings Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 3.8 million rupees, an increase from 22,500 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 0.7% from 0.0% in the year-earlier period.

Total revenue fell 8.5% on an annual basis to 561.0 million rupees from 613.4 million rupees, and total operating expenses declined 8.9% on an annual basis to 550.7 million rupees from 604.7 million rupees.

Reported net income increased on an annual basis to 6.0 million rupees, or 1.53 rupees per share, from 36,000 rupees, or 1 paise per share.

As of Feb. 5, US$1 was equivalent to 67.80 Indian rupees.