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Agriauto Industries fiscal Q2 profit climbs 34.8% YOY

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Agriauto Industries fiscal Q2 profit climbs 34.8% YOY

Agriauto Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 5.33 Pakistani rupees per share, an increase of 34.6% from 3.96 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 153.6 million rupees, an increase of 34.8% from 114.0 million rupees in the prior-year period.

The normalized profit margin fell to 8.5% from 8.7% in the year-earlier period.

Total revenue increased 38.0% year over year to 1.80 billion rupees from 1.31 billion rupees, and total operating expenses climbed 38.2% from the prior-year period to 1.54 billion rupees from 1.11 billion rupees.

Reported net income rose 47.3% on an annual basis to 191.6 million rupees, or 6.65 rupees per share, from 130.0 million rupees, or 4.52 rupees per share.

As of Feb. 26, US$1 was equivalent to 104.59 Pakistani rupees.