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Asian Star fiscal Q2 profit climbs 21.0% YOY

Asian Star Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 8.05 Indian rupees per share, a gain of 22.9% from 6.55 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 126.8 million rupees, an increase of 21.0% from 104.8 million rupees in the prior-year period.

The normalized profit margin fell to 1.6% from 1.7% in the year-earlier period.

Total revenue climbed 25.4% year over year to 7.86 billion rupees from 6.27 billion rupees, and total operating expenses rose 25.8% year over year to 7.59 billion rupees from 6.03 billion rupees.

Reported net income rose 36.2% year over year to 167.8 million rupees, or 10.65 rupees per share, from 123.2 million rupees, or 7.70 rupees per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.