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Wheels India fiscal Q2 profit climbs 14.0% YOY

Wheels India Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 7.14 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 8.10 rupees per share.

EPS declined 6.6% year over year from 7.65 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 86.0 million rupees, an increase of 14.0% from 75.5 million rupees in the year-earlier period.

The normalized profit margin increased to 1.7% from 1.6% in the year-earlier period.

Total revenue climbed 10.7% on an annual basis to 5.15 billion rupees from 4.65 billion rupees, and total operating expenses grew 9.8% on an annual basis to 4.87 billion rupees from 4.44 billion rupees.

Reported net income rose 8.9% on an annual basis to 95.1 million rupees, or 7.90 rupees per share, from 87.3 million rupees, or 8.85 rupees per share.

As of Oct. 30, US$1 was equivalent to 61.37 Indian rupees.