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Jamshri Ranjitsinghji fiscal Q1 profit climbs 14.3% YOY

Jamshri Ranjitsinghji Spinning & Weaving Mills Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 7 Indian paise per share, a gain of 9.8% from 6 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 500,000 rupees, an increase of 14.3% from 437,500 rupees in the year-earlier period.

The normalized profit margin declined to 0.4% from 0.5% in the year-earlier period.

Total revenue rose 45.3% year over year to 129.2 million rupees from 88.9 million rupees, and total operating expenses climbed 44.5% on an annual basis to 128.9 million rupees from 89.2 million rupees.

Reported net income decreased 95.9% year over year to 800,000 rupees, or 11 paise per share, from 19.7 million rupees, or 2.82 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.