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Suprajit Engineering fiscal Q1 profit climbs 18.1% YOY

Suprajit Engineering Ltd said its normalized net income for the fiscal first quarter ended June 30 was 82 Indian paise per share, an increase of 17.6% from 70 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 98.5 million rupees, an increase of 18.1% from 83.4 million rupees in the year-earlier period.

The normalized profit margin dropped to 7.0% from 7.7% in the year-earlier period.

Total revenue grew 30.5% on an annual basis to 1.41 billion rupees from 1.08 billion rupees, and total operating expenses grew 30.2% year over year to 1.23 billion rupees from 941.9 million rupees.

Reported net income rose 19.1% year over year to 106.6 million rupees, or 89 paise per share, from 89.5 million rupees, or 75 paise per share.

As of July 31, US$1 was equivalent to 60.88 Indian rupees.