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Samkrg Pistons & Rings fiscal Q1 profit climbs 88.7% YOY

Samkrg Pistons & Rings Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 3.19 Indian rupees per share, an increase of 88.9% from 1.69 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 31.3 million rupees, an increase of 88.7% from 16.6 million rupees in the year-earlier period.

The normalized profit margin rose to 5.1% from 4.0% in the year-earlier period.

Total revenue climbed 46.7% on an annual basis to 610.8 million rupees from 416.4 million rupees, and total operating expenses grew 44.2% on an annual basis to 549.3 million rupees from 380.8 million rupees.

Reported net income increased 88.4% on an annual basis to 34.0 million rupees, or 3.47 rupees per share, from 18.1 million rupees, or 1.84 rupees per share.

As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.