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Samkrg Pistons & Rings fiscal Q2 profit climbs 25.2% YOY

Samkrg Pistons and Rings Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 3.80 Indian rupees per share, an increase of 25.2% from 3.04 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 37.4 million rupees, an increase of 25.2% from 29.9 million rupees in the prior-year period.

The normalized profit margin climbed to 5.8% from 5.1% in the year-earlier period.

Total revenue increased 10.3% on an annual basis to 641.3 million rupees from 581.6 million rupees, and total operating expenses climbed 10.8% year over year to 572.4 million rupees from 516.8 million rupees.

Reported net income grew 29.6% from the prior-year period to 42.1 million rupees, or 4.28 rupees per share, from 32.4 million rupees, or 3.30 rupees per share.

As of Oct. 16, US$1 was equivalent to 61.79 Indian rupees.