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Wheels India fiscal Q3 profit climbs 20.1% YOY

Wheels India Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 4.38 Indian rupees per share, a decrease from 4.45 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 52.8 million rupees, a gain of 20.1% from 43.9 million rupees in the prior-year period.

The normalized profit margin rose to 1.1% from 1.0% in the year-earlier period.

Total revenue increased 12.8% year over year to 4.77 billion rupees from 4.22 billion rupees, and total operating expenses climbed 13.1% year over year to 4.54 billion rupees from 4.01 billion rupees.

Reported net income grew 37.4% year over year to 56.6 million rupees, or 4.70 rupees per share, from 41.2 million rupees, or 4.17 rupees per share.

As of Feb. 3, US$1 was equivalent to 61.67 Indian rupees.