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Raghuvir Synthetics fiscal Q1 profit climbs YOY

Raghuvir Synthetics Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 38 Indian paise per share, an increase of 6.3% from 35 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million rupees, a gain from 1.4 million rupees in the year-earlier period.

The normalized profit margin fell to 1.3% from 1.5% in the year-earlier period.

Total revenue rose 16.1% on an annual basis to 105.5 million rupees from 90.9 million rupees, and total operating expenses climbed 17.5% year over year to 104.6 million rupees from 89.0 million rupees.

Reported net income declined 80.0% from the prior-year period to 338,000 rupees, or 9 paise per share, from 1.7 million rupees, or 44 paise per share.

As of Aug. 13, US$1 was equivalent to 65.29 Indian rupees.