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Minda fiscal Q3 profit climbs 78.7% YOY

Minda Corp. Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 84 Indian paise per share, a gain of 74.7% from 48 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 176.4 million rupees, a gain of 78.7% from 98.7 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.4% from 2.6% in the year-earlier period.

Total revenue increased 36.3% on an annual basis to 5.26 billion rupees from 3.86 billion rupees, and total operating expenses grew 32.7% year over year to 4.84 billion rupees from 3.65 billion rupees.

Reported net income grew 91.0% from the prior-year period to 240.1 million rupees, or 1.15 rupees per share, from 125.7 million rupees, or 62 paise per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.