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Motherson Sumi Systems fiscal Q2 profit climbs 20.9% YOY

Motherson Sumi Systems Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 1.56 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.74 rupees per share.

EPS rose 19.6% year over year from 1.30 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.13 billion rupees, a gain of 20.9% from 2.59 billion rupees in the prior-year period.

The normalized profit margin climbed to 3.1% from 2.9% in the year-earlier period.

Total revenue rose 12.2% year over year to 101.37 billion rupees from 90.37 billion rupees, and total operating expenses increased 12.6% year over year to 94.04 billion rupees from 83.50 billion rupees.

Reported net income grew 25.8% from the prior-year period to 3.61 billion rupees, or 1.80 rupees per share, from 2.87 billion rupees, or 1.45 rupees per share.

As of Nov. 10, US$1 was equivalent to 67.03 Indian rupees.