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SVP Global Ventures fiscal Q1 profit climbs YOY

SVP Global Ventures Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to 196,250 rupees, a rise from 63,130 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 0.2% from 0.5% in the year-earlier period.

Total revenue rose year over year to 113.2 million rupees from 12.5 million rupees, and total operating expenses increased from the prior-year period to 112.9 million rupees from 12.4 million rupees.

Reported net income totaled 314,000 rupees, compared with 101,000 rupees, or 1 paise per share, in the prior-year period.

As of July 31, US$1 was equivalent to 60.88 Indian rupees.