SAR Auto Products Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 37 Indian paise per share, compared with a loss of 18 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.8 million rupees, compared with a loss of 865,000 rupees in the year-earlier period.

The normalized profit margin increased to 18.0% from negative 19.9% in the year-earlier period.

Total revenue grew on an annual basis to 9.8 million rupees from 4.4 million rupees, and total operating expenses increased 46.2% year over year to 8.5 million rupees from 5.8 million rupees.

Reported net income totaled 2.8 million rupees, or 59 paise per share, compared to a loss of 1.4 million rupees, or a loss of 29 paise per share, in the year-earlier period.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.