The Lakshmi Mills Company Ltd said its normalized net income for the fiscal first quarter ended June 30 was 6.32 Indian rupees per share, compared with a loss of 11.79 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 4.4 million rupees, compared with a loss of 8.2 million rupees in the prior-year period.
The normalized profit margin rose to 0.8% from negative 1.8% in the year-earlier period.
Total revenue rose 23.1% year over year to 558.1 million rupees from 453.4 million rupees, and total operating expenses increased 20.9% on an annual basis to 534.1 million rupees from 441.8 million rupees.
Reported net income declined 95.8% year over year to 6.0 million rupees, or 8.67 rupees per share, from 144.8 million rupees, or 208.12 rupees per share.
As of July 25, US$1 was equivalent to 60.01 Indian rupees.