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Kriti Nutrients fiscal Q2 profit climbs YOY

Kriti Nutrients Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 21 Indian paise per share, a gain from 4 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 10.6 million rupees, an increase from 1.8 million rupees in the prior-year period.

The normalized profit margin increased to 1.3% from 0.3% in the year-earlier period.

Total revenue climbed 18.3% year over year to 795.0 million rupees from 671.8 million rupees, and total operating expenses rose 16.8% year over year to 768.2 million rupees from 657.9 million rupees.

Reported net income grew on an annual basis to 11.2 million rupees, or 22 paise per share, from 2.0 million rupees, or 4 paise per share.

As of Nov. 4, US$1 was equivalent to 65.45 Indian rupees.