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Flex Foods fiscal Q1 profit climbs 77.9% YOY

Flex Foods Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 2.70 Indian rupees per share, an increase of 77.4% from 1.52 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 33.7 million rupees, an increase of 77.9% from 18.9 million rupees in the prior-year period.

The normalized profit margin climbed to 18.9% from 12.7% in the year-earlier period.

Total revenue increased 19.6% year over year to 178.5 million rupees from 149.3 million rupees, and total operating expenses came to 123.7 million rupees, compared with 123.4 million rupees in the year-earlier period.

Reported net income grew on an annual basis to 42.5 million rupees, or 3.41 rupees per share, from 21.0 million rupees, or 1.69 rupees per share.

As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.