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Anjani Synthetics fiscal Q1 profit climbs YOY

Anjani Synthetics Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.59 Indian rupees per share, a gain from 68 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.1 million rupees, a gain from 7.3 million rupees in the year-earlier period.

The normalized profit margin rose to 2.5% from 0.9% in the year-earlier period.

Total revenue declined 18.1% year over year to 693.0 million rupees from 846.3 million rupees, and total operating expenses fell 18.5% on an annual basis to 661.7 million rupees from 812.1 million rupees.

Reported net income increased on an annual basis to 24.3 million rupees, or 2.25 rupees per share, from 7.9 million rupees, or 73 paise per share.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.