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Kavita Fabrics fiscal Q2 profit climbs 62.3% YOY

Kavita Fabrics Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 4 Indian paise per share, an increase of 61.8% from 2 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 382,500 rupees, a gain of 62.3% from 235,630 rupees in the prior-year period.

The normalized profit margin climbed to 1.1% from 0.8% in the year-earlier period.

Total revenue rose 12.9% year over year to 33.5 million rupees from 29.7 million rupees, and total operating expenses climbed 13.3% year over year to 32.9 million rupees from 29.0 million rupees.

Reported net income rose 60.5% year over year to 423,000 rupees, or 4 paise per share, from 263,500 rupees, or 3 paise per share.

As of Nov. 12, US$1 was equivalent to 66.10 Indian rupees.