Competent Automobiles Company Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 3.74 Indian rupees per share, a gain of 16.4% from 3.21 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 23.0 million rupees, a gain of 16.2% from 19.8 million rupees in the year-earlier period.

The normalized profit margin rose to 1.0% from 1.0% in the year-earlier period.

Total revenue increased 12.2% on an annual basis to 2.20 billion rupees from 1.96 billion rupees, and total operating expenses climbed 11.9% year over year to 2.15 billion rupees from 1.92 billion rupees.

Reported net income rose 22.1% on an annual basis to 25.5 million rupees, or 4.16 rupees per share, from 20.9 million rupees, or 3.40 rupees per share.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.