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Baluchistan Wheels fiscal Q3 profit climbs 19.0% YOY

Baluchistan Wheels Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 1.63 Pakistani rupees per share, a gain of 19.6% from 1.36 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 21.7 million rupees, a gain of 19.0% from 18.2 million rupees in the prior-year period.

The normalized profit margin rose to 6.2% from 6.0% in the year-earlier period.

Total revenue grew 15.6% year over year to 350.3 million rupees from 303.0 million rupees, and total operating expenses grew 15.3% year over year to 314.7 million rupees from 272.9 million rupees.

Reported net income grew year over year to 23.3 million rupees, or 1.75 rupees per share, from 22.3 million rupees, or 1.67 rupees per share.

As of April 17, US$1 was equivalent to 101.53 Pakistani rupees.