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Banaras Beads fiscal Q2 profit climbs YOY

Banaras Beads Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.09 Indian rupees per share, compared with 1.09 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 7.3 million rupees, compared with 7.2 million rupees in the prior-year period.

The normalized profit margin fell to 9.8% from 10.3% in the year-earlier period.

Total revenue grew 5.9% on an annual basis to 74.1 million rupees from 70.0 million rupees, and total operating expenses rose 7.0% on an annual basis to 64.4 million rupees from 60.2 million rupees.

Reported net income rose 7.2% from the prior-year period to 8.7 million rupees, or 1.30 rupees per share, from 8.1 million rupees, or 1.22 rupees per share.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.