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CIEL Textile fiscal Q2 profit climbs 49.5% YOY

CIEL Textile Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 1.02 Mauritian rupees per share, an increase of 49.5% from 68 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 103.6 million rupees, an increase of 49.5% from 69.3 million rupees in the prior-year period.

The normalized profit margin climbed to 4.3% from 3.1% in the year-earlier period.

Total revenue increased 7.6% on an annual basis to 2.42 billion rupees from 2.25 billion rupees, and total operating expenses grew 6.1% on an annual basis to 2.22 billion rupees from 2.09 billion rupees.

Reported net income rose 34.7% from the prior-year period to 122.9 million rupees, or 1.21 rupees per share, from 91.3 million rupees, or 90 cents per share.

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