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Lypsa Gems & Jewellery fiscal Q2 profit climbs 48.8% YOY

Lypsa Gems & Jewellery Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 97 Indian paise per share, an increase of 48.7% from 65 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 28.6 million rupees, a gain of 48.8% from 19.2 million rupees in the year-earlier period.

The normalized profit margin rose to 1.9% from 1.3% in the year-earlier period.

Total revenue fell year over year to 1.47 billion rupees from 1.52 billion rupees, and total operating expenses decreased 5.2% from the prior-year period to 1.42 billion rupees from 1.50 billion rupees.

Reported net income grew 55.3% from the prior-year period to 41.9 million rupees, or 1.42 rupees per share, from 27.0 million rupees, or 91 paise per share.

As of Oct. 21, US$1 was equivalent to 61.15 Indian rupees.