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Suryalakshmi Cotton Mills fiscal Q1 profit climbs 61.7% YOY

Suryalakshmi Cotton Mills Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 3.51 Indian rupees per share, an increase of 61.7% from 2.17 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 50.9 million rupees, a gain of 61.7% from 31.5 million rupees in the prior-year period.

The normalized profit margin increased to 2.8% from 1.9% in the year-earlier period.

Total revenue grew 11.0% year over year to 1.80 billion rupees from 1.62 billion rupees, and total operating expenses grew 9.5% year over year to 1.63 billion rupees from 1.49 billion rupees.

Reported net income rose 17.9% from the prior-year period to 59.4 million rupees, or 4.09 rupees per share, from 50.4 million rupees, or 3.47 rupees per share.

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