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Agriauto Industries fiscal Q3 profit climbs 82.5% YOY

Agriauto Industries Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 5.49 Pakistani rupees per share, a gain of 82.3% from 3.01 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 158.1 million rupees, a gain of 82.5% from 86.7 million rupees in the prior-year period.

The normalized profit margin rose to 10.3% from 8.8% in the year-earlier period.

Total revenue increased 55.2% on an annual basis to 1.53 billion rupees from 987.1 million rupees, and total operating expenses increased 49.4% year over year to 1.28 billion rupees from 859.3 million rupees.

Reported net income rose 81.2% year over year to 181.5 million rupees, or 6.30 rupees per share, from 100.2 million rupees, or 3.48 rupees per share.

As of April 30, US$1 was equivalent to 101.69 Pakistani rupees.