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Visagar Polytex fiscal Q2 profit climbs YOY

Visagar Polytex Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 4.7 million rupees, a rise from 1.6 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.1% from 0.9% in the year-earlier period.

Total revenue rose 27.8% on an annual basis to 227.4 million rupees from 178.0 million rupees, and total operating expenses climbed 25.7% year over year to 216.8 million rupees from 172.4 million rupees.

Reported net income came to 7.5 million rupees, compared with 2.6 million rupees in the prior-year period.

As of Feb. 16, US$1 was equivalent to 62.15 Indian rupees.