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Bombay Cycle & Motor fiscal Q1 profit climbs 51.5% YOY

Bombay Cycle & Motor Agency Ltd said its normalized net income for the fiscal first quarter ended June 30 was 15.56 Indian rupees per share, an increase of 52.5% from 10.20 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 3.1 million rupees, an increase of 51.5% from 2.1 million rupees in the year-earlier period.

The normalized profit margin increased to 20.6% from 14.8% in the year-earlier period.

Total revenue climbed 9.4% on an annual basis to 15.2 million rupees from 13.9 million rupees, and total operating expenses came to 12.8 million rupees, compared with 12.7 million rupees in the prior-year period.

Reported net income rose 33.3% on an annual basis to 3.2 million rupees, or 15.93 rupees per share, from 2.4 million rupees, or 11.87 rupees per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.