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Kewal Kiran Clothing fiscal Q2 profit climbs YOY

Kewal Kiran Clothing Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 18.56 Indian rupees per share, a gain from 17.91 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 228.8 million rupees, a gain from 220.8 million rupees in the prior-year period.

The normalized profit margin declined to 17.7% from 19.1% in the year-earlier period.

Total revenue grew 11.5% on an annual basis to 1.29 billion rupees from 1.16 billion rupees, and total operating expenses climbed 16.0% on an annual basis to 942.6 million rupees from 812.9 million rupees.

Reported net income increased from the prior-year period to 242.6 million rupees, or 19.68 rupees per share, from 235.3 million rupees, or 19.09 rupees per share.

As of Oct. 17, US$1 was equivalent to 61.46 Indian rupees.