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Dhanlaxmi Fabrics fiscal Q1 profit climbs 22.7% YOY

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Dhanlaxmi Fabrics fiscal Q1 profit climbs 22.7% YOY

Dhanlaxmi Fabrics Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 30 Indian paise per share, an increase of 23.1% from 24 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 2.6 million rupees, an increase of 22.7% from 2.1 million rupees in the year-earlier period.

The normalized profit margin dropped to 1.3% from 1.4% in the year-earlier period.

Total revenue grew 38.4% on an annual basis to 200.9 million rupees from 145.2 million rupees, and total operating expenses rose 34.4% on an annual basis to 190.7 million rupees from 141.9 million rupees.

Reported net income increased 22.7% from the prior-year period to 4.1 million rupees, or 48 paise per share, from 3.3 million rupees, or 39 paise per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.