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JMT Auto fiscal Q2 profit climbs 52.2% YOY

JMT Auto Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 5 Indian paise per share, an increase of 47.9% from 3 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 24.7 million rupees, an increase of 52.2% from 16.2 million rupees in the prior-year period.

The normalized profit margin climbed to 2.8% from 1.4% in the year-earlier period.

Total revenue declined 27.5% year over year to 868.1 million rupees from 1.20 billion rupees, and total operating expenses decreased 30.3% from the prior-year period to 784.1 million rupees from 1.13 billion rupees.

Reported net income increased 55.9% on an annual basis to 25.5 million rupees, or 5 paise per share, from 16.4 million rupees, or 3 paise per share.

As of Nov. 10, US$1 was equivalent to 66.24 Indian rupees.