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Arex Industries fiscal Q1 profit climbs YOY

Arex Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.84 Indian rupees per share, an increase from 91 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.3 million rupees, a gain from 3.6 million rupees in the year-earlier period.

The normalized profit margin rose to 8.5% from 4.9% in the year-earlier period.

Total revenue grew 18.6% year over year to 85.8 million rupees from 72.3 million rupees, and total operating expenses rose 12.4% year over year to 72.4 million rupees from 64.4 million rupees.

Reported net income rose on an annual basis to 10.4 million rupees, or 2.62 rupees per share, from 3.9 million rupees, or 1 rupee per share.

As of July 30, US$1 was equivalent to 60.35 Indian rupees.