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Esteem Bio Organic Food Processing fiscal H1 profit climbs 79.6% YOY

Esteem Bio Organic Food Processing Ltd. said its normalized net income for the fiscal first half ended Sept. 30 came to 3 Indian paise per share, compared with 3 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 6.9 million rupees, an increase of 79.6% from 3.8 million rupees in the year-earlier period.

Total revenue rose on an annual basis to 23.7 million rupees from 9.6 million rupees, and total operating expenses rose from the prior-year period to 13.7 million rupees from 4.2 million rupees.

Reported net income increased 81.5% from the prior-year period to 10.7 million rupees, or 4 paise per share, from 5.9 million rupees, or 4 paise per share.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.