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United Nilgiri Tea Estates fiscal Q1 profit climbs 34.3% YOY

United Nilgiri Tea Estates Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 4.32 Indian rupees per share, an increase of 34.3% from 3.21 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.6 million rupees, a gain of 34.3% from 16.1 million rupees in the prior-year period.

The normalized profit margin rose to 15.8% from 15.2% in the year-earlier period.

Total revenue climbed 28.9% year over year to 136.5 million rupees from 105.9 million rupees, and total operating expenses climbed 29.3% from the prior-year period to 106.7 million rupees from 82.5 million rupees.

Reported net income increased 28.3% on an annual basis to 25.8 million rupees, or 5.16 rupees per share, from 20.1 million rupees, or 4.02 rupees per share.

As of Aug. 4, US$1 was equivalent to 63.75 Indian rupees.