Rico Auto Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 30 Indian paise per share, a gain from 12 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 40.1 million rupees, a gain from 16.8 million rupees in the prior-year period.
The normalized profit margin increased to 1.6% from 0.5% in the year-earlier period.
Total revenue fell 27.4% on an annual basis to 2.51 billion rupees from 3.46 billion rupees, and total operating expenses declined 28.5% on an annual basis to 2.42 billion rupees from 3.38 billion rupees.
Reported net income came to 42.8 million rupees, or 32 paise per share, compared to a loss of 12.8 million rupees, or a loss of 9 paise per share, in the year-earlier period.
As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.