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Sunil Industries fiscal Q2 profit climbs 50.5% YOY

Sunil Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 1.65 Indian rupees per share, a gain of 50.8% from 1.09 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 6.9 million rupees, an increase of 50.5% from 4.6 million rupees in the prior-year period.

The normalized profit margin rose to 1.7% from 1.0% in the year-earlier period.

Total revenue fell 13.5% year over year to 402.1 million rupees from 464.6 million rupees, and total operating expenses decreased 15.4% on an annual basis to 384.0 million rupees from 453.9 million rupees.

Reported net income grew 57.6% on an annual basis to 7.6 million rupees, or 1.80 rupees per share, from 4.8 million rupees, or 1.14 rupees per share.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.