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Lumax Auto Technologies fiscal Q1 profit falls YOY

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Lumax Auto Technologies fiscal Q1 profit falls YOY

Lumax Auto Technologies Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 4.72 Indian rupees per share, a decrease of 13.2% from 5.44 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 64.3 million rupees, a decrease of 13.2% from 74.1 million rupees in the year-earlier period.

The normalized profit margin declined to 3.3% from 4.0% in the year-earlier period.

Total revenue rose 6.0% on an annual basis to 1.97 billion rupees from 1.86 billion rupees, and total operating expenses grew 6.6% year over year to 1.86 billion rupees from 1.74 billion rupees.

Reported net income grew on an annual basis to 234.0 million rupees, or 17.16 rupees per share, from 80.2 million rupees, or 5.89 rupees per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.