Rico Auto Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 12 Indian paise per share, compared with a loss of 6 paise per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.8 million rupees, compared with a loss of 8.9 million rupees in the year-earlier period.
The normalized profit margin rose to 0.5% from negative 0.2% in the year-earlier period.
Total revenue decreased 6.7% on an annual basis to 3.46 billion rupees from 3.71 billion rupees, and total operating expenses declined 5.9% from the prior-year period to 3.38 billion rupees from 3.60 billion rupees.
Reported net income totaled a loss of 12.8 million rupees, or a loss of 9 paise per share, compared to a loss of 19.5 million rupees, or a loss of 14 paise per share, in the year-earlier period.
As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.
