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India Motor Parts & Accessories fiscal Q2 profit climbs 41.8% YOY

India Motor Parts & Accessories Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 10.13 Indian rupees per share, a gain of 41.8% from 7.15 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 84.3 million rupees, a gain of 41.8% from 59.5 million rupees in the year-earlier period.

The normalized profit margin increased to 6.7% from 4.7% in the year-earlier period.

Total revenue declined year over year to 1.25 billion rupees from 1.27 billion rupees, and total operating expenses decreased year over year to 1.17 billion rupees from 1.19 billion rupees.

Reported net income increased 51.7% on an annual basis to 102.4 million rupees, or 12.31 rupees per share, from 67.5 million rupees, or 8.11 rupees per share.

As of Oct. 28, US$1 was equivalent to 61.19 Indian rupees.