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Maharashtra Scooters fiscal Q1 profit climbs YOY

Maharashtra Scooters Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.07 Indian rupees per share, an increase from 51 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.3 million rupees, an increase from 5.9 million rupees in the year-earlier period.

The normalized profit margin rose to 53.0% from 43.2% in the year-earlier period.

Total revenue climbed 69.9% year over year to 23.1 million rupees from 13.6 million rupees, and total operating expenses climbed from the prior-year period to 34.1 million rupees from 32.7 million rupees.

Reported net income grew year over year to 19.6 million rupees, or 1.72 rupees per share, from 9.4 million rupees, or 82 paise per share.

As of July 21, US$1 was equivalent to 63.54 Indian rupees.