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Ajwa Fun World & Resort fiscal Q1 profit climbs 95.7% YOY

Ajwa Fun World & Resort Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 5 Indian paise per share, a gain from 3 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 310,630 rupees, a gain of 95.7% from 158,750 rupees in the year-earlier period.

The normalized profit margin rose to 2.5% from 1.2% in the year-earlier period.

Total revenue fell year over year to 12.6 million rupees from 12.8 million rupees, and total operating expenses fell from the prior-year period to 12.2 million rupees from 12.6 million rupees.

Reported net income grew 95.7% from the prior-year period to 497,000 rupees, or 8 paise per share, from 254,000 rupees, or 4 paise per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.