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Mauritius Oil Refineries fiscal Q2 profit climbs 23.7% YOY

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Mauritius Oil Refineries fiscal Q2 profit climbs 23.7% YOY

Mauritius Oil Refineries Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 28 Mauritian cents per share, a gain of 23.2% from 22 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.1 million rupees, an increase of 23.7% from 7.4 million rupees in the prior-year period.

The normalized profit margin climbed to 2.8% from 2.2% in the year-earlier period.

Total revenue fell year over year to 326.9 million rupees from 332.6 million rupees, and total operating expenses declined on an annual basis to 311.1 million rupees from 324.2 million rupees.

Reported net income grew 30.6% from the prior-year period to 12.9 million rupees, or 39 cents per share, from 9.9 million rupees, or 30 cents per share.

As of Feb. 13, US$1 was equivalent to 33.35 Mauritian rupees.