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Relaxo Footwears fiscal Q1 profit climbs 62.2% YOY

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Relaxo Footwears fiscal Q1 profit climbs 62.2% YOY

Relaxo Footwears Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 2.78 Indian rupees per share, an increase of 62.0% from 1.71 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 334.0 million rupees, a gain of 62.2% from 205.9 million rupees in the prior-year period.

The normalized profit margin rose to 7.4% from 5.5% in the year-earlier period.

Total revenue grew 21.4% on an annual basis to 4.52 billion rupees from 3.72 billion rupees, and total operating expenses increased 17.6% year over year to 3.93 billion rupees from 3.34 billion rupees.

Reported net income grew 55.5% year over year to 359.7 million rupees, or 2.99 rupees per share, from 231.3 million rupees, or 1.93 rupees per share.

As of July 24, US$1 was equivalent to 64.11 Indian rupees.