JBM Auto Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 3.53 Indian rupees per share, a decrease of 23.3% from 4.61 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 145.8 million rupees, a decline of 22.5% from 188.1 million rupees in the year-earlier period.

The normalized profit margin dropped to 4.0% from 5.3% in the year-earlier period.

Total revenue climbed year over year to 3.64 billion rupees from 3.56 billion rupees, and total operating expenses climbed year over year to 3.23 billion rupees from 3.14 billion rupees.

Reported net income fell 20.4% on an annual basis to 170.3 million rupees, or 4.13 rupees per share, from 214.0 million rupees, or 5.24 rupees per share.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.