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Arrow Textiles fiscal Q1 profit climbs 12.2% YOY

Arrow Textiles Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 42 Indian paise per share, an increase of 11.2% from 38 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 8.0 million rupees, an increase of 12.2% from 7.2 million rupees in the year-earlier period.

The normalized profit margin fell to 7.4% from 7.8% in the year-earlier period.

Total revenue climbed 18.6% year over year to 109.2 million rupees from 92.1 million rupees, and total operating expenses climbed 17.3% on an annual basis to 93.7 million rupees from 79.9 million rupees.

Reported net income fell 6.1% year over year to 7.6 million rupees, or 40 paise per share, from 8.1 million rupees, or 43 paise per share.

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