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Suryalakshmi Cotton Mills fiscal Q1 profit climbs 41.9% YOY

Suryalakshmi Cotton Mills Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 4.34 Indian rupees per share, an increase of 23.7% from 3.51 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 72.3 million rupees, a gain of 41.9% from 50.9 million rupees in the prior-year period.

The normalized profit margin climbed to 3.9% from 2.8% in the year-earlier period.

Total revenue increased year over year to 1.87 billion rupees from 1.80 billion rupees, and total operating expenses grew on an annual basis to 1.68 billion rupees from 1.63 billion rupees.

Reported net income increased 16.7% on an annual basis to 69.3 million rupees, or 4.16 rupees per share, from 59.4 million rupees, or 4.09 rupees per share.

As of July 29, US$1 was equivalent to 63.84 Indian rupees.