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Motherson Sumi Systems fiscal Q2 profit climbs 27.7% YOY

Motherson Sumi Systems Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.30 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.50 rupees per share.

EPS increased 28.2% year over year from 1.02 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.59 billion rupees, a gain of 27.7% from 2.02 billion rupees in the prior-year period.

The normalized profit margin rose to 2.9% from 2.6% in the year-earlier period.

Total revenue increased 14.1% year over year to 90.37 billion rupees from 79.22 billion rupees, and total operating expenses grew 12.4% from the prior-year period to 83.50 billion rupees from 74.30 billion rupees.

Reported net income grew 174.7% on an annual basis to 2.87 billion rupees, or 1.45 rupees per share, from 1.04 billion rupees, or 52 paise per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.