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Page Industries fiscal Q1 profit climbs 23.6% YOY

Page Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 45.37 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 46.39 rupees per share.

EPS rose 23.6% year over year from 36.72 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 506.0 million rupees, a gain of 23.6% from 409.5 million rupees in the year-earlier period.

The normalized profit margin declined to 13.4% from 13.5% in the year-earlier period.

Total revenue grew 24.4% year over year to 3.78 billion rupees from 3.04 billion rupees, and total operating expenses increased 23.6% on an annual basis to 2.95 billion rupees from 2.39 billion rupees.

Reported net income rose 26.0% on an annual basis to 543.0 million rupees, or 48.68 rupees per share, from 431.0 million rupees, or 38.65 rupees per share.

As of Aug. 14, US$1 was equivalent to 60.85 Indian rupees.