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Indus Motor fiscal Q2 profit climbs YOY

Indus Motor Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 23.72 Pakistani rupees per share, compared with the S&P Capital IQ consensus estimate of 20.90 rupees per share.

EPS climbed year over year from 5.29 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.86 billion rupees, an increase from 416.3 million rupees in the prior-year period.

The normalized profit margin rose to 8.5% from 3.5% in the year-earlier period.

Total revenue climbed 86.0% on an annual basis to 21.82 billion rupees from 11.73 billion rupees, and total operating expenses climbed 73.0% year over year to 19.52 billion rupees from 11.28 billion rupees.

Reported net income rose on an annual basis to 2.02 billion rupees, or 25.65 rupees per share, from 472.6 million rupees, or 6.01 rupees per share.

As of Feb. 27, US$1 was equivalent to 101.83 Pakistani rupees.