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Cheviot fiscal Q2 profit climbs 78.9% YOY

Cheviot Co. Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 24.60 Indian rupees per share, a gain of 78.9% from 13.75 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 111.0 million rupees, an increase of 78.9% from 62.0 million rupees in the year-earlier period.

The normalized profit margin climbed to 11.5% from 8.6% in the year-earlier period.

Total revenue climbed 34.1% year over year to 969.1 million rupees from 722.5 million rupees, and total operating expenses increased 26.9% year over year to 830.0 million rupees from 653.9 million rupees.

Reported net income increased 64.1% on an annual basis to 125.3 million rupees, or 27.78 rupees per share, from 76.4 million rupees, or 16.93 rupees per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.