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Shri Jagdamba Polymers fiscal Q1 profit climbs YOY

Shri Jagdamba Polymers Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 76 Indian paise per share, an increase from 73 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.7 million rupees, a gain from 6.4 million rupees in the prior-year period.

The normalized profit margin declined to 2.1% from 2.8% in the year-earlier period.

Total revenue rose 35.5% year over year to 315.5 million rupees from 232.8 million rupees, and total operating expenses rose 36.7% on an annual basis to 298.1 million rupees from 218.1 million rupees.

Reported net income grew 6.1% on an annual basis to 6.5 million rupees, or 74 paise per share, from 6.1 million rupees, or 70 paise per share.

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