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BSL Ltd. fiscal Q1 profit climbs 75.0% YOY

BSL Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 21 Indian paise per share, an increase of 66.7% from 13 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 2.2 million rupees, an increase of 75.0% from 1.3 million rupees in the prior-year period.

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

Total revenue rose 34.8% on an annual basis to 920.0 million rupees from 682.5 million rupees, and total operating expenses increased 37.7% from the prior-year period to 890.5 million rupees from 646.9 million rupees.

Reported net income rose 75.0% from the prior-year period to 2.1 million rupees, or 20 paise per share, from 1.2 million rupees, or 12 paise per share.

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