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GS Auto International fiscal Q3 loss widens YOY

G.S. Auto International Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 62 Indian paise per share, compared with a loss of 18 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 a loss of 8.9 million rupees, compared with a loss of 2.1 million rupees in the prior-year period.

The normalized profit margin dropped to negative 2.4% from negative 0.7% in the year-earlier period.

Total revenue increased 20.3% on an annual basis to 368.4 million rupees from 306.2 million rupees, and total operating expenses grew 25.0% year over year to 373.9 million rupees from 299.1 million rupees.

Reported net income came to a loss of 11.8 million rupees, or a loss of 82 paise per share, compared to a loss of 5.8 million rupees, or a loss of 49 paise per share, in the year-earlier period.

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