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Shree Bhavya Fabrics fiscal Q1 profit climbs 13.0% YOY

Shree Bhavya Fabrics Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 14 Indian paise per share, an increase of 15.0% from 13 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 1.4 million rupees, a gain of 13.0% from 1.2 million rupees in the prior-year period.

The normalized profit margin increased to 0.2% from 0.2% in the year-earlier period.

Total revenue rose on an annual basis to 621.5 million rupees from 614.8 million rupees, and total operating expenses totaled 599.4 million rupees, compared with 596.2 million rupees in the prior-year period.

Reported net income rose 13.0% year over year to 2.2 million rupees, or 23 paise per share, from 1.9 million rupees, or 20 paise per share.

As of Aug. 12, US$1 was equivalent to 64.75 Indian rupees.