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Rajesh Exports fiscal Q2 profit climbs 59.0% YOY

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Rajesh Exports fiscal Q2 profit climbs 59.0% YOY

Rajesh Exports Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was 3.38 Indian rupees per share, an increase of 59.1% from 2.13 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 998.5 million rupees, a gain of 59.0% from 627.9 million rupees in the prior-year period.

The normalized profit margin declined to 0.9% from 1.0% in the year-earlier period.

Total revenue climbed 70.2% year over year to 109.59 billion rupees from 64.41 billion rupees, and total operating expenses rose 72.4% on an annual basis to 107.12 billion rupees from 62.12 billion rupees.

Reported net income rose 59.0% from the prior-year period to 1.60 billion rupees, or 5.41 rupees per share, from 1.00 billion rupees, or 3.40 rupees per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.