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Singer India fiscal Q2 profit climbs 15.7% YOY

Singer India Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 31 Indian paise per share, a gain of 15.3% from 27 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 16.6 million rupees, an increase of 15.7% from 14.4 million rupees in the year-earlier period.

The normalized profit margin declined to 2.3% from 2.5% in the year-earlier period.

Total revenue rose 21.4% on an annual basis to 709.3 million rupees from 584.3 million rupees, and total operating expenses grew 21.8% on an annual basis to 686.8 million rupees from 564.1 million rupees.

Reported net income rose 14.6% year over year to 17.3 million rupees, or 32 paise per share, from 15.1 million rupees, or 28 paise per share.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.