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Shree Bhavya Fabrics fiscal Q1 profit climbs 16.2% YOY

Shree Bhavya Fabrics Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 1.2 million rupees, a rise of 16.2% from 1.0 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

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

Total revenue increased year over year to 614.8 million rupees from 605.0 million rupees, and total operating expenses increased on an annual basis to 596.2 million rupees from 585.9 million rupees.

Reported net income rose 16.2% on an annual basis to 1.9 million rupees, or 20 paise per share, from 1.7 million rupees.

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