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Maharashtra Scooters fiscal Q2 profit climbs 9.2% YOY

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Maharashtra Scooters fiscal Q2 profit climbs 9.2% YOY

Maharashtra Scooters Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 26.06 Indian rupees per share, a gain of 9.2% from 23.86 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 297.8 million rupees, a gain of 9.2% from 272.7 million rupees in the prior-year period.

The normalized profit margin dropped to 1,721.5% from 2,572.5% in the year-earlier period.

Total revenue grew 63.2% on an annual basis to 17.3 million rupees from 10.6 million rupees, and total operating expenses rose year over year to 50.2 million rupees from 24.0 million rupees.

Reported net income rose 9.2% on an annual basis to 476.5 million rupees, or 41.70 rupees per share, from 436.3 million rupees, or 38.17 rupees per share.

As of Oct. 13, US$1 was equivalent to 61.02 Indian rupees.