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Carasso Motors Q3 profit climbs YOY

Carasso Motors Ltd. said its normalized net income for the third quarter came to 95 agorot per share, an increase from 46 agorot per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 63.0 million shekels, a gain from 30.9 million shekels in the prior-year period.

The normalized profit margin increased to 7.1% from 4.4% in the year-earlier period.

Total revenue climbed 24.9% year over year to 886.3 million shekels from 709.7 million shekels, and total operating expenses climbed 17.8% year over year to 764.3 million shekels from 648.9 million shekels.

Reported net income increased year over year to 73.6 million shekels, or 1.11 shekels per share, from 35.9 million shekels, or 54 agorot per share.

As of Nov. 25, US$1 was equivalent to 3.88 shekels.