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Siyaram Silk Mills fiscal Q2 profit climbs YOY

Siyaram Silk Mills Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 4.74 Indian rupees per share, an increase from 4.63 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 222.3 million rupees, an increase from 217.1 million rupees in the year-earlier period.

The normalized profit margin climbed to 5.6% from 5.5% in the year-earlier period.

Total revenue totaled 3.98 billion rupees, compared with 3.94 billion rupees in the prior-year period, and total operating expenses totaled 3.59 billion rupees, compared with 3.56 billion rupees in the prior-year period.

Reported net income rose year over year to 230.9 million rupees, or 4.93 rupees per share, from 220.3 million rupees, or 4.70 rupees per share.

As of Nov. 5, US$1 was equivalent to 65.90 Indian rupees.