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Sharda Motor Industries fiscal Q3 profit climbs 29.9% YOY

Sharda Motor Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 6.42 Indian rupees per share, an increase of 30.0% from 4.94 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 38.2 million rupees, a gain of 29.9% from 29.4 million rupees in the year-earlier period.

The normalized profit margin rose to 1.8% from 1.5% in the year-earlier period.

Total revenue rose 8.0% year over year to 2.11 billion rupees from 1.95 billion rupees, and total operating expenses increased 7.2% year over year to 2.03 billion rupees from 1.89 billion rupees.

Reported net income rose 86.8% on an annual basis to 73.1 million rupees, or 12.30 rupees per share, from 39.1 million rupees, or 6.58 rupees per share.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.