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Jaipan Industries fiscal Q1 profit climbs 38.2% YOY

Jaipan Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 10 Indian paise per share, an increase of 33.3% from 8 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 621,880 rupees, a gain of 38.2% from 450,000 rupees in the prior-year period.

The normalized profit margin fell to 0.6% from 0.9% in the year-earlier period.

Total revenue rose year over year to 106.9 million rupees from 51.8 million rupees, and total operating expenses rose from the prior-year period to 104.7 million rupees from 50.3 million rupees.

Reported net income rose 38.2% from the prior-year period to 995,000 rupees, or 16 paise per share, from 720,000 rupees, or 12 paise per share.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.