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Safari Industries fiscal Q1 profit climbs 27.2% YOY

Safari Industries (India) Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.34 Indian rupees per share, a gain of 27.2% from 1.05 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 20.1 million rupees, a gain of 27.2% from 15.8 million rupees in the prior-year period.

The normalized profit margin climbed to 3.1% from 3.1% in the year-earlier period.

Total revenue climbed 24.3% on an annual basis to 638.8 million rupees from 513.8 million rupees, and total operating expenses rose 31.9% on an annual basis to 590.9 million rupees from 448.1 million rupees.

Reported net income increased 29.6% from the prior-year period to 22.6 million rupees, or 1.51 rupees per share, from 17.4 million rupees, or 1.16 rupees per share.

As of July 28, US$1 was equivalent to 60.09 Indian rupees.