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Mirza International fiscal Q1 profit climbs 83.3% YOY

Mirza International Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.86 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.69 rupees per share.

EPS increased 83.4% year over year from 1.02 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 172.9 million rupees, a gain of 83.3% from 94.3 million rupees in the year-earlier period.

The normalized profit margin increased to 6.9% from 4.5% in the year-earlier period.

Total revenue climbed 18.0% on an annual basis to 2.50 billion rupees from 2.11 billion rupees, and total operating expenses climbed 13.6% year over year to 2.13 billion rupees from 1.87 billion rupees.

Reported net income rose 84.7% on an annual basis to 180.2 million rupees, or 1.94 rupees per share, from 97.5 million rupees, or 1.05 rupees per share.

As of July 30, US$1 was equivalent to 64.11 Indian rupees.