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Reliance Chemotex Industries fiscal Q2 profit climbs 6.7% YOY

Reliance Chemotex Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 3.27 Indian rupees per share, an increase from 3.12 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 17.4 million rupees, an increase of 6.7% from 16.3 million rupees in the prior-year period.

The normalized profit margin rose to 3.0% from 2.4% in the year-earlier period.

Total revenue declined 13.0% year over year to 586.7 million rupees from 674.3 million rupees, and total operating expenses decreased 8.9% on an annual basis to 569.5 million rupees from 624.8 million rupees.

Reported net income increased 14.1% from the prior-year period to 23.2 million rupees, or 4.36 rupees per share, from 20.3 million rupees, or 3.89 rupees per share.

As of Oct. 15, US$1 was equivalent to 61.40 Indian rupees.