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Wabco India fiscal Q2 profit climbs 6.4% YOY

Wabco India Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 14.53 Indian rupees per share, an increase of 6.3% from 13.66 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 275.6 million rupees, an increase of 6.4% from 259.1 million rupees in the prior-year period.

The normalized profit margin dropped to 9.1% from 10.1% in the year-earlier period.

Total revenue rose 18.2% on an annual basis to 3.04 billion rupees from 2.57 billion rupees, and total operating expenses grew 15.9% from the prior-year period to 2.65 billion rupees from 2.28 billion rupees.

Reported net income increased 7.4% year over year to 312.6 million rupees, or 16.48 rupees per share, from 291.1 million rupees, or 15.35 rupees per share.

As of Oct. 20, US$1 was equivalent to 61.26 Indian rupees.