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Concrete Credit fiscal Q2 profit climbs YOY

Concrete Credit Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 24,380 rupees, a gain from 9,380 rupees in the prior-year period.

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

The normalized profit margin climbed to 0.3% from 0.3% in the year-earlier period.

Total revenue increased year over year to 7.6 million rupees from 3.3 million rupees, and total operating expenses increased year over year to 7.6 million rupees from 3.3 million rupees.

Reported net income came to 27,000 rupees, compared with 10,000 rupees in the year-earlier period.

As of Nov. 2, US$1 was equivalent to 65.58 Indian rupees.