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Lypsa Gems & Jewellery fiscal Q1 profit climbs 80.3% YOY

Lypsa Gems & Jewellery Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 94 Indian paise per share, an increase of 80.3% from 52 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 27.8 million rupees, a gain of 80.3% from 15.4 million rupees in the prior-year period.

The normalized profit margin climbed to 2.0% from 1.5% in the year-earlier period.

Total revenue climbed 35.2% on an annual basis to 1.39 billion rupees from 1.03 billion rupees, and total operating expenses increased 33.8% on an annual basis to 1.34 billion rupees from 1.00 billion rupees.

Reported net income rose 87.8% year over year to 41.1 million rupees, or 1.40 rupees per share, from 21.9 million rupees, or 74 paise per share.

As of Aug. 4, US$1 was equivalent to 61.01 Indian rupees.