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Alfa Ica (India) fiscal Q2 profit climbs 81.2% YOY

Alfa Ica (India) Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 83 Indian paise per share, an increase of 79.9% from 46 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.3 million rupees, a gain of 81.2% from 1.8 million rupees in the prior-year period.

The normalized profit margin increased to 2.0% from 1.1% in the year-earlier period.

Total revenue climbed on an annual basis to 165.9 million rupees from 161.2 million rupees, and total operating expenses climbed on an annual basis to 156.6 million rupees from 154.9 million rupees.

Reported net income increased 70.9% on an annual basis to 3.8 million rupees, or 95 paise per share, from 2.3 million rupees, or 56 paise per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.