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JBM Auto fiscal Q3 profit falls YOY

JBM Auto Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 1.49 Indian rupees per share, a decrease of 61.4% from 3.86 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 62.4 million rupees, a decline of 61.4% from 161.8 million rupees in the year-earlier period.

The normalized profit margin fell to 2.0% from 4.2% in the year-earlier period.

Total revenue declined 18.5% on an annual basis to 3.18 billion rupees from 3.90 billion rupees, and total operating expenses declined 15.5% on an annual basis to 2.94 billion rupees from 3.48 billion rupees.

Reported net income declined 67.0% on an annual basis to 77.9 million rupees, or 1.86 rupees per share, from 236.2 million rupees, or 5.64 rupees per share.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.