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Gabriel India fiscal Q2 profit climbs YOY

Gabriel India Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.10 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.19 rupees per share.

EPS climbed year over year from 1.06 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 157.7 million rupees, a gain from 152.4 million rupees in the prior-year period.

The normalized profit margin rose to 4.2% from 4.0% in the year-earlier period.

Total revenue decreased year over year to 3.72 billion rupees from 3.80 billion rupees, and total operating expenses fell from the prior-year period to 3.47 billion rupees from 3.57 billion rupees.

Reported net income grew 10.7% on an annual basis to 192.9 million rupees, or 1.34 rupees per share, from 174.3 million rupees, or 1.21 rupees per share.

As of Nov. 3, US$1 was equivalent to 65.66 Indian rupees.