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Baluchistan Wheels fiscal Q2 profit climbs 18.9% YOY

Baluchistan Wheels Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 61 Pakistani paisa per share, a gain of 18.9% from 51 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.1 million rupees, a gain of 18.9% from 6.9 million rupees in the year-earlier period.

The normalized profit margin climbed to 2.5% from 2.3% in the year-earlier period.

Total revenue rose 6.8% year over year to 320.3 million rupees from 299.9 million rupees, and total operating expenses rose 6.1% year over year to 305.8 million rupees from 288.1 million rupees.

Reported net income grew on an annual basis to 15.0 million rupees, or 1.12 rupees per share, from 6.9 million rupees, or 52 paisa per share.

As of Feb. 20, US$1 was equivalent to 101.67 Pakistani rupees.