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CIL Nova Petrochemicals fiscal Q1 profit climbs 25.3% YOY

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CIL Nova Petrochemicals fiscal Q1 profit climbs 25.3% YOY

CIL Nova Petrochemicals Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 64 Indian paise per share, a gain of 24.2% from 52 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 8.7 million rupees, a gain of 25.3% from 6.9 million rupees in the year-earlier period.

The normalized profit margin climbed to 1.5% from 1.1% in the year-earlier period.

Total revenue fell 11.9% on an annual basis to 568.7 million rupees from 645.5 million rupees, and total operating expenses declined 12.5% year over year to 543.2 million rupees from 620.7 million rupees.

Reported net income rose 23.8% year over year to 11.0 million rupees, or 81 paise per share, from 8.9 million rupees, or 66 paise per share.

As of Aug. 14, US$1 was equivalent to 65.08 Indian rupees.