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Amrit fiscal Q2 profit climbs YOY

Amrit Corp. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 8.21 Indian rupees per share, a gain from 2.21 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.4 million rupees, an increase from 7.1 million rupees in the prior-year period.

The normalized profit margin climbed to 19.8% from 5.0% in the year-earlier period.

Total revenue decreased 6.3% on an annual basis to 133.0 million rupees from 142.0 million rupees, and total operating expenses fell 8.9% from the prior-year period to 133.4 million rupees from 146.4 million rupees.

Reported net income grew from the prior-year period to 37.0 million rupees, or 11.51 rupees per share, from 11.2 million rupees, or 3.49 rupees per share.

As of Oct. 15, US$1 was equivalent to 61.40 Indian rupees.