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Phoenix Township fiscal Q1 profit climbs 8.0% YOY

Phoenix Township Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 5 Indian paise per share, an increase of 14.3% from 4 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 675,630 rupees, an increase of 8.0% from 625,630 rupees in the year-earlier period.

The normalized profit margin dropped to 2.3% from 2.5% in the year-earlier period.

Total revenue climbed 17.2% year over year to 29.1 million rupees from 24.8 million rupees, and total operating expenses rose 20.4% year over year to 26.9 million rupees from 22.4 million rupees.

Reported net income grew 8.0% from the prior-year period to 1.1 million rupees, or 8 paise per share, from 1.0 million rupees, or 7 paise per share.

As of July 28, US$1 was equivalent to 60.09 Indian rupees.