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Samkrg Pistons & Rings fiscal Q3 profit climbs 29.3% YOY

Samkrg Pistons & Rings Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2.87 Indian rupees per share, a gain of 29.3% from 2.22 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 28.2 million rupees, an increase of 29.3% from 21.8 million rupees in the prior-year period.

The normalized profit margin rose to 5.1% from 4.1% in the year-earlier period.

Total revenue increased on an annual basis to 549.7 million rupees from 535.6 million rupees, and total operating expenses rose year over year to 497.0 million rupees from 481.1 million rupees.

Reported net income increased 33.0% from the prior-year period to 32.4 million rupees, or 3.30 rupees per share, from 24.3 million rupees, or 2.48 rupees per share.

As of Feb. 2, US$1 was equivalent to 61.72 Indian rupees.