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Gabriel India fiscal Q3 profit climbs 9.1% YOY

Gabriel India Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 98 Indian paise per share, an increase of 8.8% from 90 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 141.2 million rupees, an increase of 9.1% from 129.4 million rupees in the year-earlier period.

The normalized profit margin rose to 4.0% from 3.6% in the year-earlier period.

Total revenue decreased year over year to 3.52 billion rupees from 3.56 billion rupees, and total operating expenses fell on an annual basis to 3.30 billion rupees from 3.35 billion rupees.

Reported net income grew 10.2% on an annual basis to 175.6 million rupees, or 1.22 rupees per share, from 159.4 million rupees, or 1.11 rupees per share.

As of Jan. 29, US$1 was equivalent to 67.85 Indian rupees.