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Competent Automobiles fiscal Q1 profit climbs 6.6% YOY

Competent Automobiles Company Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 3.27 Indian rupees per share, an increase of 6.4% from 3.08 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 20.1 million rupees, a gain of 6.6% from 18.9 million rupees in the prior-year period.

The normalized profit margin increased to 1.0% from 0.9% in the year-earlier period.

Total revenue decreased year over year to 2.09 billion rupees from 2.12 billion rupees, and total operating expenses declined from the prior-year period to 2.05 billion rupees from 2.08 billion rupees.

Reported net income increased year over year to 21.4 million rupees, or 3.48 rupees per share, from 20.5 million rupees, or 3.34 rupees per share.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.