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Shree Bhavya Fabrics fiscal Q2 profit climbs 19.9% YOY

Shree Bhavya Fabrics Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 6 Indian paise per share, a gain of 26.6% from 5 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 601,880 rupees, a gain of 19.9% from 501,880 rupees in the prior-year period.

The normalized profit margin increased to 0.1% from 0.1% in the year-earlier period.

Total revenue decreased 19.0% on an annual basis to 503.6 million rupees from 621.7 million rupees, and total operating expenses decreased 20.0% from the prior-year period to 481.4 million rupees from 601.9 million rupees.

Reported net income increased 19.9% on an annual basis to 963,000 rupees, or 10 paise per share, from 803,000 rupees, or 8 paise per share.

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