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Automotive Axles fiscal Q3 profit climbs 41.6% YOY

Automotive Axles Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 4.94 Indian rupees per share, a gain of 41.6% from 3.49 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 74.7 million rupees, an increase of 41.6% from 52.7 million rupees in the year-earlier period.

The normalized profit margin climbed to 2.8% from 2.6% in the year-earlier period.

Total revenue increased 29.1% year over year to 2.65 billion rupees from 2.05 billion rupees, and total operating expenses climbed 29.6% on an annual basis to 2.52 billion rupees from 1.95 billion rupees.

Reported net income increased 47.5% on an annual basis to 82.5 million rupees, or 5.46 rupees per share, from 55.9 million rupees, or 3.70 rupees per share.

As of Feb. 10, US$1 was equivalent to 67.87 Indian rupees.