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Gabriel India fiscal Q1 profit climbs 72.0% YOY

Gabriel India Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 82 Indian paise per share, a gain of 72.4% from 47 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 117.8 million rupees, a gain of 72.0% from 68.5 million rupees in the year-earlier period.

The normalized profit margin increased to 3.4% from 2.3% in the year-earlier period.

Total revenue grew 18.9% on an annual basis to 3.50 billion rupees from 2.94 billion rupees, and total operating expenses grew 17.3% year over year to 3.31 billion rupees from 2.82 billion rupees.

Reported net income grew 58.0% year over year to 137.0 million rupees, or 95 paise per share, from 86.7 million rupees, or 60 paise per share.

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