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Swasti Vinayaka Synthetics profit holds mostly steady YOY in fiscal Q2

Swasti Vinayaka Synthetics Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 3 Indian paise per share, compared with 3 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 2.0 million rupees, compared with 2.0 million rupees in the prior-year period.

The normalized profit margin rose to 5.4% from 5.1% in the year-earlier period.

Total revenue declined year over year to 38.2 million rupees from 40.1 million rupees, and total operating expenses fell 7.0% year over year to 33.9 million rupees from 36.5 million rupees.

Reported net income totaled 3.3 million rupees, or 4 paise per share, compared to 3.3 million rupees, or 4 paise per share, in the year-earlier period.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.