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Scooters India fiscal Q2 profit climbs 89.7% YOY

Scooters India Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 8 Indian paise per share, a gain of 18.2% from 7 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 7.1 million rupees, a gain of 89.7% from 3.8 million rupees in the prior-year period.

The normalized profit margin rose to 1.7% from 0.9% in the year-earlier period.

Total revenue grew on an annual basis to 424.8 million rupees from 409.3 million rupees, and total operating expenses climbed 7.5% from the prior-year period to 431.8 million rupees from 401.7 million rupees.

Reported net income rose 89.7% year over year to 11.4 million rupees, or 13 paise per share, from 6.0 million rupees, or 11 paise per share.

As of Nov. 27, US$1 was equivalent to 61.80 Indian rupees.