Maharashtra Scooters Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 1.01 Indian rupees per share, a decrease of 30.0% from 1.44 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 11.5 million rupees, a decline of 30.3% from 16.5 million rupees in the prior-year period.
The normalized profit margin dropped to 50.7% from 118.7% in the year-earlier period.
Total revenue rose 63.3% on an annual basis to 22.7 million rupees from 13.9 million rupees, and total operating expenses rose 26.4% year over year to 37.4 million rupees from 29.6 million rupees.
Reported net income decreased 30.3% year over year to 18.4 million rupees, or 1.61 rupees per share, from 26.4 million rupees, or 2.30 rupees per share.
As of Feb. 2, US$1 was equivalent to 67.97 Indian rupees.