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Rane Brake Lining fiscal Q3 profit climbs YOY

Rane Brake Lining Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 4.24 Indian rupees per share, a gain from 1.43 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 33.6 million rupees, an increase from 11.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.3% from 1.2% in the year-earlier period.

Total revenue climbed 8.8% on an annual basis to 1.01 billion rupees from 928.0 million rupees, and total operating expenses increased 5.5% year over year to 943.4 million rupees from 894.0 million rupees.

Reported net income increased 78.2% year over year to 43.7 million rupees, or 5.52 rupees per share, from 24.5 million rupees, or 3.10 rupees per share.

As of Jan. 23, US$1 was equivalent to 61.41 Indian rupees.