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Suprajit Engineering fiscal Q2 profit climbs 10.2% YOY

Suprajit Engineering Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.03 Indian rupees per share, an increase of 10.0% from 94 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 124.1 million rupees, a gain of 10.2% from 112.7 million rupees in the year-earlier period.

The normalized profit margin dropped to 8.1% from 9.1% in the year-earlier period.

Total revenue grew 23.4% year over year to 1.53 billion rupees from 1.24 billion rupees, and total operating expenses grew 24.3% from the prior-year period to 1.30 billion rupees from 1.05 billion rupees.

Reported net income increased 11.5% from the prior-year period to 143.3 million rupees, or 1.19 rupees per share, from 128.6 million rupees, or 1.07 rupees per share.

As of Oct. 30, US$1 was equivalent to 61.37 Indian rupees.