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Relaxo Footwears fiscal Q2 profit climbs 41.8% YOY

Relaxo Footwears Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 1.81 Indian rupees per share, an increase of 41.4% from 1.28 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 217.5 million rupees, a gain of 41.8% from 153.4 million rupees in the prior-year period.

The normalized profit margin rose to 5.7% from 4.6% in the year-earlier period.

Total revenue climbed 15.8% year over year to 3.84 billion rupees from 3.32 billion rupees, and total operating expenses grew 13.6% year over year to 3.45 billion rupees from 3.03 billion rupees.

Reported net income grew 56.2% year over year to 270.6 million rupees, or 2.25 rupees per share, from 173.3 million rupees, or 1.45 rupees per share.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.