Shivam Autotech Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 62 Indian paise per share, an increase from 60 paise per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 62.2 million rupees, an increase from 60.0 million rupees in the prior-year period.
The normalized profit margin dropped to 5.4% from 6.2% in the year-earlier period.
Total revenue grew 18.4% on an annual basis to 1.14 billion rupees from 967.3 million rupees, and total operating expenses climbed 21.4% on an annual basis to 996.3 million rupees from 820.7 million rupees.
Reported net income declined on an annual basis to 79.7 million rupees, or 80 paise per share, from 80.5 million rupees, or 81 paise per share.
As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.
