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Tyroon Tea fiscal Q2 profit climbs 7.0% YOY

Tyroon Tea Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 7.01 Indian rupees per share, a gain of 7.0% from 6.56 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 23.9 million rupees, a gain of 7.0% from 22.3 million rupees in the year-earlier period.

The normalized profit margin increased to 23.4% from 22.4% in the year-earlier period.

Total revenue climbed year over year to 101.9 million rupees from 99.7 million rupees, and total operating expenses decreased 5.5% on an annual basis to 64.9 million rupees from 68.7 million rupees.

Reported net income rose 7.0% from the prior-year period to 38.2 million rupees, or 11.22 rupees per share, from 35.7 million rupees, or 10.49 rupees per share.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.