JBM Auto Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2.69 Indian rupees per share, a decline of 28.8% from 3.78 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 110.9 million rupees, a decrease of 27.8% from 153.7 million rupees in the year-earlier period.

The normalized profit margin declined to 2.7% from 4.2% in the year-earlier period.

Total revenue climbed 14.2% on an annual basis to 4.14 billion rupees from 3.62 billion rupees, and total operating expenses grew 15.6% on an annual basis to 3.76 billion rupees from 3.25 billion rupees.

Reported net income grew 18.6% from the prior-year period to 179.1 million rupees, or 4.34 rupees per share, from 151.1 million rupees, or 3.71 rupees per share.

As of Nov. 5, US$1 was equivalent to 65.90 Indian rupees.