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Wabco India fiscal Q1 profit falls YOY

Wabco India Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 14.10 Indian rupees per share, a decrease of 16.0% from 16.79 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 267.5 million rupees, a decrease of 16.0% from 318.3 million rupees in the year-earlier period.

The normalized profit margin fell to 8.8% from 12.8% in the year-earlier period.

Total revenue increased 22.6% year over year to 3.05 billion rupees from 2.49 billion rupees, and total operating expenses climbed 26.0% on an annual basis to 2.66 billion rupees from 2.11 billion rupees.

Reported net income fell 13.3% from the prior-year period to 306.6 million rupees, or 16.17 rupees per share, from 353.9 million rupees, or 18.66 rupees per share.

As of July 21, US$1 was equivalent to 60.32 Indian rupees.