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Agriauto Industries fiscal Q2 profit climbs YOY

Agriauto Industries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 3.96 Pakistani rupees per share, a gain from 83 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 114.0 million rupees, an increase from 24.2 million rupees in the prior-year period.

The normalized profit margin rose to 8.7% from 3.5% in the year-earlier period.

Total revenue increased 89.1% on an annual basis to 1.31 billion rupees from 690.3 million rupees, and total operating expenses rose 71.2% on an annual basis to 1.13 billion rupees from 660.6 million rupees.

Reported net income increased year over year to 130.0 million rupees, or 4.52 rupees per share, from 18.6 million rupees, or 64 paisa per share.

As of Feb. 23, US$1 was equivalent to 101.72 Pakistani rupees.