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Gabriel India fiscal Q1 profit climbs 20.8% YOY

Gabriel India Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 99 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 99 paise per share.

EPS climbed 21.7% year over year from 82 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 142.3 million rupees, an increase of 20.8% from 117.8 million rupees in the prior-year period.

The normalized profit margin rose to 4.2% from 3.4% in the year-earlier period.

Total revenue declined year over year to 3.40 billion rupees from 3.50 billion rupees, and total operating expenses decreased from the prior-year period to 3.17 billion rupees from 3.31 billion rupees.

Reported net income increased 27.5% year over year to 174.6 million rupees, or 1.22 rupees per share, from 137.0 million rupees, or 95 paise per share.

As of July 30, US$1 was equivalent to 64.11 Indian rupees.