Omax Auto net slips 43% to USD672,000 in Q3 2012
Net sales from operations decline 10%
Sheet metal auto parts manufacturer Omax Auto recorded 43% decline in net income for the third quarter (Q3) of fiscal year ending 31 March 2013, totalling at INR35.5m (USD672,350) compared with INR62.9m (USD1.2m, 30 September 2011) in the same period of last fiscal. Net sales from operations totalled INR2.79bn (USD52.8m), down from INR3.10bn (USD62m) recorded in Q3 a year ago. Profit before taxes also slid to INR52.2m (USD988,640), compared with INR90m (USD1.8m) in the corresponding period of previous fiscal.
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