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Southern Latex fiscal Q2 profit climbs YOY

Southern Latex Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 463,750 rupees, an increase from 93,750 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 climbed to 67.2% from 3.8% in the year-earlier period.

Total revenue decreased 71.8% year over year to 690,000 rupees from 2.5 million rupees, and total operating expenses declined 71.0% year over year to 668,000 rupees from 2.3 million rupees.

Reported net income came to 742,000 rupees, compared with 150,000 rupees in the prior-year period.

As of Oct. 13, US$1 was equivalent to 61.02 Indian rupees.