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Enkei Wheels fiscal Q1 profit climbs YOY

Enkei Wheels (India) Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 30 Indian paise per share, a gain from 2 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.8 million rupees, a gain from 263,750 rupees in the prior-year period.

The normalized profit margin climbed to 0.5% from 0.0% in the year-earlier period.

Total revenue climbed 5.6% year over year to 796.5 million rupees from 753.9 million rupees, and total operating expenses increased year over year to 768.0 million rupees from 741.5 million rupees.

Reported net income increased on an annual basis to 4.8 million rupees, or 38 paise per share, from 422,000 rupees, or 3 paise per share.

As of July 28, US$1 was equivalent to 60.09 Indian rupees.