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JMT Auto fiscal Q3 profit climbs YOY

JMT Auto Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 14.6 million rupees, a gain from 205,000 rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 1.4% from 0.0% in the year-earlier period.

Total revenue rose 82.6% on an annual basis to 1.03 billion rupees from 562.8 million rupees, and total operating expenses climbed 83.3% on an annual basis to 954.8 million rupees from 520.8 million rupees.

Reported net income grew year over year to 14.3 million rupees, or 3 paise per share, from 44,000 rupees, or 0 paise per share.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.