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JMT Auto fiscal Q1 profit climbs YOY

JMT Auto Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 34.1 million rupees, an increase from 677,500 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 2.8% from 0.1% in the year-earlier period.

Total revenue increased 80.4% on an annual basis to 1.21 billion rupees from 672.3 million rupees, and total operating expenses grew 78.9% year over year to 1.12 billion rupees from 627.2 million rupees.

Reported net income rose from the prior-year period to 35.9 million rupees, or 7 paise per share, from 884,000 rupees, or 0 paise per share.

As of July 30, US$1 was equivalent to 60.35 Indian rupees.