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Ceat fiscal Q3 profit climbs 36.1% YOY

Ceat Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 22.33 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 22.15 rupees per share.

EPS climbed 30.1% year over year from 17.16 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 839.8 million rupees, a gain of 36.1% from 617.0 million rupees in the year-earlier period.

The normalized profit margin climbed to 6.0% from 4.3% in the year-earlier period.

Total revenue declined year over year to 14.10 billion rupees from 14.28 billion rupees, and total operating expenses fell on an annual basis to 12.51 billion rupees from 12.85 billion rupees.

Reported net income increased 33.3% on an annual basis to 892.6 million rupees, or 23.73 rupees per share, from 669.5 million rupees, or 18.62 rupees per share.

As of Feb. 5, US$1 was equivalent to 61.74 Indian rupees.