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Dollar Industries fiscal Q2 profit climbs YOY

Dollar Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.61 Indian rupees per share, an increase from 1.58 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 62.5 million rupees, a gain from 61.2 million rupees in the prior-year period.

The normalized profit margin dropped to 2.9% from 3.1% in the year-earlier period.

Total revenue increased 9.0% year over year to 2.17 billion rupees from 1.99 billion rupees, and total operating expenses grew 8.5% on an annual basis to 2.03 billion rupees from 1.87 billion rupees.

Reported net income declined on an annual basis to 75.0 million rupees, or 1.94 rupees per share, from 77.9 million rupees, or 2.01 rupees per share.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.