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Suprajit Engineering fiscal Q1 profit climbs 40.8% YOY

Suprajit Engineering Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 1.15 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.30 rupees per share.

EPS increased 40.0% year over year from 82 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 138.7 million rupees, a gain of 40.8% from 98.5 million rupees in the prior-year period.

The normalized profit margin climbed to 9.0% from 7.0% in the year-earlier period.

Total revenue climbed 10.0% on an annual basis to 1.55 billion rupees from 1.41 billion rupees, and total operating expenses increased 9.5% year over year to 1.34 billion rupees from 1.23 billion rupees.

Reported net income grew 29.9% from the prior-year period to 138.5 million rupees, or 1.15 rupees per share, from 106.6 million rupees, or 89 paise per share.

As of Aug. 11, US$1 was equivalent to 64.36 Indian rupees.