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India Motor Parts & Accessories fiscal Q3 profit falls YOY

India Motor Parts & Accessories Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 5.22 Indian rupees per share, a decline of 28.8% from 7.33 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 43.5 million rupees, a decline of 28.8% from 61.0 million rupees in the prior-year period.

The normalized profit margin declined to 3.5% from 4.7% in the year-earlier period.

Total revenue fell on an annual basis to 1.25 billion rupees from 1.29 billion rupees, and total operating expenses came to 1.19 billion rupees, compared with 1.20 billion rupees in the year-earlier period.

Reported net income fell 29.3% from the prior-year period to 45.5 million rupees, or 5.46 rupees per share, from 64.3 million rupees, or 7.72 rupees per share.

As of Feb. 11, US$1 was equivalent to 68.37 Indian rupees.