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Kewal Kiran Clothing fiscal Q1 profit climbs 14.5% YOY

Kewal Kiran Clothing Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 8.87 Indian rupees per share, an increase of 14.6% from 7.74 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 109.3 million rupees, an increase of 14.5% from 95.4 million rupees in the year-earlier period.

The normalized profit margin rose to 12.0% from 11.3% in the year-earlier period.

Total revenue rose 8.1% year over year to 912.4 million rupees from 844.3 million rupees, and total operating expenses rose 11.1% on an annual basis to 769.8 million rupees from 692.9 million rupees.

Reported net income grew 12.1% year over year to 113.7 million rupees, or 9.23 rupees per share, from 101.4 million rupees, or 8.22 rupees per share.

As of July 23, US$1 was equivalent to 63.86 Indian rupees.