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Alfa Ica (India) fiscal Q1 profit climbs 15.4% YOY

Alfa Ica (India) Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 49 Indian paise per share, a gain of 14.3% from 43 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 2.0 million rupees, a gain of 15.4% from 1.7 million rupees in the prior-year period.

The normalized profit margin climbed to 1.3% from 1.1% in the year-earlier period.

Total revenue decreased 7.2% year over year to 147.3 million rupees from 158.8 million rupees, and total operating expenses fell 8.0% year over year to 141.4 million rupees from 153.7 million rupees.

Reported net income increased 9.9% on an annual basis to 2.5 million rupees, or 61 paise per share, from 2.3 million rupees, or 56 paise per share.

As of Aug. 4, US$1 was equivalent to 61.01 Indian rupees.