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Butterfly Gandhimathi Appliances fiscal Q2 profit climbs YOY

Butterfly Gandhimathi Appliances Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 3.42 Indian rupees per share, a gain from 79 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 61.1 million rupees, an increase from 14.1 million rupees in the prior-year period.

The normalized profit margin climbed to 2.0% from 0.9% in the year-earlier period.

Total revenue grew 99.9% year over year to 3.11 billion rupees from 1.55 billion rupees, and total operating expenses increased 98.0% on an annual basis to 2.93 billion rupees from 1.48 billion rupees.

Reported net income grew from the prior-year period to 65.4 million rupees, or 3.66 rupees per share, from 14.8 million rupees, or 83 paise per share.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.