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JBM Auto fiscal Q1 profit climbs YOY

JBM Auto Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 4.61 Indian rupees per share, a gain from 1.29 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 188.1 million rupees, an increase from 52.7 million rupees in the prior-year period.

The normalized profit margin rose to 5.3% from 2.3% in the year-earlier period.

Total revenue grew 53.9% on an annual basis to 3.56 billion rupees from 2.31 billion rupees, and total operating expenses increased 49.0% on an annual basis to 3.14 billion rupees from 2.11 billion rupees.

Reported net income grew from the prior-year period to 214.0 million rupees, or 5.24 rupees per share, from 41.0 million rupees, or 1.00 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.