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Virat Crane Industries fiscal Q3 profit climbs YOY

Virat Crane Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 55 Indian paise per share, an increase from 8 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.1 million rupees, a gain from 1.7 million rupees in the prior-year period.

The normalized profit margin rose to 7.3% from 1.3% in the year-earlier period.

Total revenue rose 13.3% on an annual basis to 151.8 million rupees from 134.0 million rupees, and total operating expenses totaled 133.0 million rupees, compared with 132.2 million rupees in the year-earlier period.

Reported net income grew on an annual basis to 12.0 million rupees, or 59 paise per share, from 1.9 million rupees, or 9 paise per share.

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