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Bharat Seats fiscal Q2 profit climbs YOY

Bharat Seats Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 64 Indian paise per share, compared with 63 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 20.1 million rupees, a gain from 19.8 million rupees in the prior-year period.

The normalized profit margin dropped to 1.1% from 1.1% in the year-earlier period.

Total revenue grew 6.4% year over year to 1.84 billion rupees from 1.73 billion rupees, and total operating expenses rose 6.3% from the prior-year period to 1.80 billion rupees from 1.69 billion rupees.

Reported net income fell year over year to 21.4 million rupees, or 68 paise per share, from 22.2 million rupees, or 71 paise per share.

As of Nov. 2, US$1 was equivalent to 65.58 Indian rupees.