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Sinnar Bidi Udyog fiscal Q2 profit climbs YOY

Sinnar Bidi Udyog Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 6.88 Indian rupees per share, an increase from 1.88 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 1.4 million rupees, an increase from 187,500 rupees in the year-earlier period.

The normalized profit margin rose to 5.1% from 1.0% in the year-earlier period.

Total revenue climbed 43.9% on an annual basis to 27.2 million rupees from 18.9 million rupees, and total operating expenses climbed 39.4% year over year to 23.0 million rupees from 16.5 million rupees.

Reported net income grew on an annual basis to 2.0 million rupees, or 10.00 rupees per share, from 100,000 rupees, or 1 rupee per share.

As of Nov. 10, US$1 was equivalent to 66.24 Indian rupees.