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Jay Bharat Maruti fiscal Q2 profit falls 19.8% YOY

Jay Bharat Maruti Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 4.33 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.76 rupees per share.

EPS decreased 19.7% year over year from 5.39 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 93.6 million rupees, a decrease of 19.8% from 116.6 million rupees in the year-earlier period.

The normalized profit margin dropped to 3.0% from 3.6% in the year-earlier period.

Total revenue fell on an annual basis to 3.12 billion rupees from 3.23 billion rupees, and total operating expenses fell year over year to 2.92 billion rupees from 2.99 billion rupees.

Reported net income declined 18.8% from the prior-year period to 99.4 million rupees, or 4.60 rupees per share, from 122.5 million rupees, or 5.66 rupees per share.

As of Oct. 15, US$1 was equivalent to 64.78 Indian rupees.