SAR Auto Products Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 24 Indian paise per share, compared with a loss of 31 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million rupees, compared with a loss of 1.5 million rupees in the prior-year period.
The normalized profit margin increased to 15.2% from negative 44.5% in the year-earlier period.
Total revenue climbed on an annual basis to 7.6 million rupees from 3.3 million rupees, and total operating expenses rose 29.3% from the prior-year period to 7.3 million rupees from 5.6 million rupees.
Reported net income came to 1.8 million rupees, or 39 paise per share, compared to a loss of 2.3 million rupees, or a loss of 49 paise per share, in the prior-year period.
As of Aug. 6, US$1 was equivalent to 63.70 Indian rupees.