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Rishi Techtex fiscal Q1 profit climbs YOY

Rishi Techtex Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 28 Indian paise per share, a gain from 4 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.5 million rupees, an increase from 234,380 rupees in the year-earlier period.

The normalized profit margin increased to 1.3% from 0.3% in the year-earlier period.

Total revenue increased 46.6% on an annual basis to 118.2 million rupees from 80.6 million rupees, and total operating expenses climbed 46.7% from the prior-year period to 111.6 million rupees from 76.0 million rupees.

Reported net income rose from the prior-year period to 2.5 million rupees, or 44 paise per share, from 375,000 rupees, or 7 paise per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.