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India Motor Parts & Accessories fiscal Q1 profit climbs 18.0% YOY

India Motor Parts & Accessories Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 7.99 Indian rupees per share, a gain of 18.0% from 6.77 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 66.5 million rupees, an increase of 18.0% from 56.3 million rupees in the year-earlier period.

The normalized profit margin rose to 4.9% from 4.6% in the year-earlier period.

Total revenue rose 10.0% on an annual basis to 1.35 billion rupees from 1.23 billion rupees, and total operating expenses increased 8.6% from the prior-year period to 1.25 billion rupees from 1.15 billion rupees.

Reported net income increased 12.1% from the prior-year period to 72.1 million rupees, or 8.67 rupees per share, from 64.3 million rupees, or 7.73 rupees per share.

As of Aug. 7, US$1 was equivalent to 61.24 Indian rupees.